Abu Dhabi’s state-owned energy company ADNOC has outlined plans to invest $150 billion between 2026 and 2030, with the funding earmarked for maintaining core operations, supporting growth projects and addressing rising global demand for energy.
The update followed a board meeting on Monday, during which directors also confirmed an increase in ADNOC’s reserves. The company reported oil reserves of 120 billion stock tank barrels (stb), up from 113 billion stb, and natural gas reserves rising to 297 trillion standard cubic feet (scf) from 290 trillion scf.
ADNOC continues to draw international partners into its unconventional exploration concessions, part of a wider push to accelerate development, strengthen the UAE’s gas self-sufficiency and supply growing global gas markets. According to the company, Abu Dhabi’s unconventional resources currently stand at an estimated 160 tcf of gas and 22 billion stb of oil.
The firm also highlighted the performance of XRG, its international investment arm. ADNOC said XRG’s enterprise value had grown to $151 billion, up from about $80 billion when it was launched in November last year. XRG has been tasked with pursuing global opportunities in chemicals, natural gas and renewables as the emirate looks to broaden its portfolio and reduce reliance on oil export revenue.
In addition, the ADNOC board approved plans for a new operating company for the Ghasha concession. The offshore development is expected to produce around 1.8 billion scf of gas and 150,000 barrels per day of oil and condensates once operational.
