Mohammed bin Zayed announces Supreme Petroleum Council decisions

The Supreme Petroleum Council, chaired by Mohammed bin Zayed, reviewed the results of ADNOC in 2018, which included the discovery of 15 trillion cubic feet of gas and an additional 1 billion barrels of crude oil. Several decisions were announced after the Supreme Petroleum Council’s meeting today.

Mohammed bin Zayed tweeted with the meeting proceedings on his official twitter account, stating: “With the blessing of Khalifa, we held a meeting of the Supreme Petroleum Council and approved Dh 486 billion in investments to support ADNOC’s growth and expansion projects in the next five years. We also adopted a comprehensive strategy to achieve gas self-sufficiency and gradually increase oil capacity to 5 million barrels per day in 2030”.

His highness continued tweeting: ““Accelerating investments, driving competitiveness & increasing productivity are strategic imperatives, as we enter a new phase of national development. ADNOC is taking proactive steps to keep the UAE ahead of the curve and to enable future prosperity”.