Tue 23-03-2021 17:52 PM
ABU DHABI, 23rd March, 2021 (WAM) -- The Abu Dhabi National Oil Company (ADNOC) today reiterated its commitment to drive industrial growth and diversification through its ambitious downstream and industry growth program, supporting the Ministry of Industry and Advanced Technology’s (MoIAT) ‘Make it in the Emirates’ strategy.
Petrochemical, refining and gas growth projects are currently under construction, with a number of projects also recently completed across the Downstream and industry portfolio. ADNOC is gearing up for growth with TA’ZIZ, the world-scale chemicals production hub and industrial ecosystem based in Ruwais, with investment in excess of AED18 billion and a number of further growth projects in the Downstream and industry sector. In addition, a blue hydrogen and ammonia business is under development to capture the emerging global demand for low carbon fuels.
The commitment builds on ADNOC’s flagship In County-Value (ICV) programme, which has driven in excess of AED76 billion back into the UAE economy.
ADNOC’s renewed commitment in driving industrial growth in the UAE comes as the Front End Engineering and Design (FEED) tenders for TA’ZIZ, the world-scale chemicals production hub and industrial ecosystem based in Ruwais, have been issued. .
Khaled Salmeen, Executive Director of ADNOC’s Downstream, Industry, Marketing & Trading Directorate, said, "ADNOC’s downstream and industry operations are a critical engine of industrial growth in the UAE. Our operations provide competitive fuels and feedstocks to enable the Nation’s industries and manufacturing supply chains. With our ambitious growth plans, ADNOC is proud to support the Ministry of Industry and Advanced Technology’s ‘Make it in Emirates’ strategy, creating new opportunities for companies to grow, develop and to thrive in the UAE."
ADNOC currently supplies over two-thirds of the UAE’s industrial energy needs, supporting and enabling the growth of local industries. The company’s focus on driving industrial growth through its downstream business will see significant investments across its chemical, polyolefin, refining and hydrogen portfolios.
Within TA’ZIZ’s Industrial Chemicals Zone, total investment will be in excess of AED18 billion, with the chemicals produced enabling new industries in the UAE, across a wide range of light industries and industrial services. Examples of new products which can be produced in the UAE include disinfectants, plastics, construction materials and pharmaceuticals. Opportunities are available for local and international investors to participate across the value chain.
Since the launch of TA’ZIZ, joint venture partners ADNOC and ADQ have received significant interest from investors, with partners for key anchor projects set to be announced in the coming months. TA’ZIZ is also a vehicle to enable local private sector investment in the UAE’s downstream industry.
Following the mandate from the Supreme Petroleum Council in November 2020, to explore potential opportunities in hydrogen with the ambition to position the UAE as a hydrogen leader, the company is exploring the potential to help meet the emerging global demand for blue hydrogen and blue ammonia derived from natural gas. ADNOC will build on its advantaged position as a major natural gas reserves holder and producer, with existing infrastructure and strong partnerships.
ADNOC continues to develop its Ruwais refinery, the world’s fourth largest, to enhance the flexibility and resilience of operations including the AED13 billion ‘Crude Flexibility Project’ and AED2 billion ‘Waste Heat Recovery’ project, which are both under construction. By investing in these capital projects, ADNOC will continue to ensure the provision of secure and competitive fuels and feedstock to local industries.
Expansion of the World-scale polyolefin production at Borouge continues, with the fifth polypropylene unit now more than 90 percent complete. The unit will have the capacity to make polypropylene for approximately 600,000 kilometres of polypropylene pipes per annum, enough to circle the Earth 15 times.
Since 2018, ADNOC has attracted significant foreign direct investment from international partners in the downstream business including refining, fertilizers and gas pipelines. ADNOC’s downstream growth plans are in line with its 2030 strategy of a more profitable upstream, more valuable and resilient downstream and sustainable, economic gas supply, underpinned by more proactive and adaptive marketing and trading.
ADNOC’s existing and sizeable downstream portfolio comprises eight companies with capacity to process 10.5 billion standard cubic feet (scf) of gas per day, and 922,000 barrels per day (bpd) of condensate and crude. They produce up to 40 million tons per year (mtpa) of refined products, and a range of other products, including granulated urea, liquefied petroleum gas (LPG), naphtha, gasoline, jet fuel, gas oil and base oils, and other petrochemical feedstock and specialty products.