Abu Dhabi National Oil Company (ADNOC) is mulling on publicly listing some of its services businesses besides exploring new partnerships with global investors in the oil, gas, refining and petrochemical sectors.
The strategy of UAE’s state-owned oil company is to open up new revenue opportunities and at the same time gain more access for its products in important growth markets.
It has announced its intentions to expand its partnership model throughout its entire value chain. ADNOC has also revealed its plans to actively manage its portfolio of assets to consolidate on its flexible operating model and the 2030 growth strategy.
UAE Minister of State and ADNOC Group CEO Sultan Ahmed Al Jaber said: “This expanded partnership model marks a key milestone in the future growth of ADNOC. At its core is a re-defined more integrated and flexible partnership model for our oil, gas, refining and petrochemical businesses.
“We are developing a range of creative co-investment opportunities from across our value chain and we will soon begin a dialogue with both new and existing partners from around the world.”
ADNOC expects its new initiative to unlock and increase significant value throughout the group. It also anticipates the measures to drive business and grow revenue further while streamlining performance.
In the upstream sector, ADNOC plans to develop and further grow a regional, fully integrated drilling firm. For the midstream sector, the oil firm plans to float a new energy infrastructure venture that will create value and also streamline the group’s assets.
For the downstream sector, ADNOC is considering to open up various partnership and investment opportunities for its portfolio of refinery and petrochemical assets.
The company believes that the new ventures will help it bring in partners to enhance integration and grow technological capability and output to match the increasing demand for petrochemical products across the globe.
Image: ADNOC plans to publicly list some of its services businesses. Photo: courtesy of Abu Dhabi National Oil Company.