• Home
• /
• Local business

ADNOC, Subsidiaries Committed to CDM Projects

ABU DHABI — Abu Dhabi National Oil Company, or ADNOC, and its subsidiaries which are on the forefront of Clean Development Mechanism projects in the country, are participating in full force at the World Future Energy Summit, to show their commitment to renewable energy.

The group’s subsidairies— Ruwais Fertilisers, Abu Dhabi Refining Company, or TAKEER, Abu Dhabi Gas Liquefaction Company or GASCO andADGAS — are in the different stages of carrying outClean Development Mechanism projects in association with Masdar.

The group’sparticipation at the WFES is part of its efforts to keep abreast with the current trends in the oil and gas industry.

The summit also provides the opportunity for the group’s decision makers and experts to share views and discuss key issues around sustainable and alternative energy solutions and technologies, and explore the latest developments in future 
energy solutions.

Abdullah Nasser Al Suwaidi, ADNOC’s Deputy Chief Executive Officer and Exploration & Production Director, said the oil giant’s participation at the mega event was ‘timely’ as the world still reels under the effects of the global crisis.

“This year’s summit comes at a time when the global economy witnesses many tough challenges posed by the economic crisis and we hope that decision makers will be able to come up with appropriate solutions to future energy,” he said.

“Abu Dhabi counts for 94 per cent of oil production in the country and invests billions of dollars every year in order to maintain the pace of growth in Oil and Gas fields through excavation, exploration production, mobilisation, maintenance,” he said.

“This huge business and growth is associated with many challenges which require us in the oil and gas sector to keep abreast with the current trend in the industry,” he noted.

Suwaidi said his group is very active in developing a sustainable future and using future energy solutions through technology and innovations.

ADNOC is a major diversified group of energy and petrochemical companies. Their business is about finding, producing and marketing the natural resources on which the modern world depends. The group’s activities include exploration and production of crude oil and natural gas; refining, marketing, supply and transportation, and the manufacture of petrochemicals.

Our integrated upstream and downstream activities are conducted by 14 specialist subsidiary and joint venture companies. The President of the Maldives, Mohamed Nasheed, visited ADNOC Group’s stand, where he was given a breifing on company’s activities.

· haseebhaider@khaleejtimes.com