The Abu Dhabi National Oil Company (ADNOC) has unveiled a series of strategic agreements with leading US energy companies, marking a significant boost in bilateral energy cooperation between the UAE and the United States.
The agreements, announced during the UAE-US Business Dialogue with US President Donald Trump, are expected to unlock up to $60 billion in US investments across various energy projects in the UAE, Caliber.Az reports citing the company.
Key among the agreements is a landmark field development plan with ExxonMobil and INPEX/JODCO, aimed at expanding the capacity of Abu Dhabi’s Upper Zakum offshore field through phased development. Additionally, ADNOC signed a strategic collaboration agreement with Occidental to enhance the Shah Gas field's production capacity from 1.45 billion standard cubic feet per day (bscfd) to 1.85 bscfd and accelerate the deployment of advanced technologies.
These agreements reflect the shared commitment of both nations to ensuring global energy security and market stability. The UAE’s investment in the US energy sector is expected to reach an enterprise value of $440 billion by 2035, as part of the UAE’s broader $1.4 trillion investment plan.
Sultan Al Jaber, ADNOC’s Managing Director and Group CEO, emphasized the importance of the partnership, stating, "The deep-rooted bilateral relationship between the UAE and the US is underpinned by our shared commitment to enabling energy abundance. We see significant opportunities for further UAE-US partnerships across the energy-AI nexus."
As part of ADNOC’s expansion strategy, XRG, ADNOC’s global energy investment company, has also signed a framework agreement with Occidental subsidiary 1PointFive. This agreement explores a potential investment in a direct air capture (DAC) project in Texas aimed at removing up to 500,000 tons of CO₂ per year.
Moreover, the Supreme Council for Financial and Economic Affairs (SCFEA) of Abu Dhabi granted EOG Resources Inc. a new unconventional oil exploration concession, further solidifying the UAE's position as a trusted investment destination for US energy companies.
These initiatives highlight the UAE's commitment to innovation, sustainability, and continued growth in its energy sector.
By Vafa Guliyeva
Source: caliber.az
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