Sheikh Mohamed bin Zayed on Sunday praised employees of the Abu Dhabi National Oil Company for their dedication throughout the Covid-19 pandemic.
The Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces was presiding over a meeting of the Supreme Petroleum Council, during which the announcement of a find of substantial unconventional oil resources was made.
At its meeting today, the Supreme Petroleum Council announced the discovery of new oil resources in Abu Dhabi & approved ADNOC’s AED 448bn CAPEX plan for 2021-2025. Under the plan, ADNOC will drive over AED 160bn of in country value into the UAE economy between 2021-2025 pic.twitter.com/Hfoe9GjFZJ
— محمد بن زايد (@MohamedBinZayed) November 22, 2020
Sheikh Mohamed, who is also Vice Chairman of the Council, described the workforce as the country's greatest asset.
"I had the pleasure of meeting a number of my sons and daughters working on Adnoc's front lines and members of the Future Leadership Development Programme, and getting to know their distinguished efforts," he said on Twitter.
"Developing young leaders and preparing them to contribute to building a bright future for the country is a steadfast and firm approach to state policy."
Sheikh Mohamed commended Adnoc for ensuring continuous operations despite tough market conditions, and for prioritising the health and safety of its employees during the Covid-19 outbreak.
He thanked Adnoc for its sustained contribution to the country's economy.
On Sunday, the council approved Adnoc's plans to spend Dh448 billion ($122bn) over the next five years, of which Dh160bn will be directed to the local economy.
The new onshore oil resources were estimated at 22 billion barrels and there was an increase in conventional oil reserves of two billion barrels.
