After the highly successful Annual Investment Meet in April 2018, held in Adnec; PLUS UAE was able to cover yet another exuberant event – ADNOC Downstream Investment Forum held in Emirates Palace on 13th May 2018.
This event specialized in the further expansion plans of Abu Dhabi- Al Ruwais; with an investment plan of 165B AED, significantly increasing in the refinery and petrochemical facility in the country. This opens up the gate to all new and old investors to join hand in building the world-leading oil facilities and ecosystem in Ruwais, lead by ADNOC – the leading global downstream player. We were able to meet many local and foreign investors and we have offered our support to provide them with a flawless company formation services with clear and disruptive corporation E2E; while they would be able to work on their investment areas.
In PLUS UAE, we believe simply in best and trustworthy services with no hidden charges or information. Henceforth, we are able to provide a 100% service satisfaction to all our clients.
Dr. Sultan Bin Ahmad Sultan Al Jaber, Minister of State and ADNOC Group CEO, has said that the UAE administration’s vision has proceeded with Abu Dhabi’s 50 years heritage as a solid, trusted, stable accomplice of the decision to extend existing connections and manufacture new vital organizations in the oil business.
Dr. Al Jaber’s comments came amid ADNOC’s Downstream Investment Forum which commenced in Abu Dhabi today.
He went ahead to state that through the span of the Forum, “we will share our point by point shrewd development technique to satisfy the vision of our authority by turning into a main worldwide downstream player. On a very basic level, our system will make a completely incorporated downstream biological system catching an incentive at each progression en route from product to buyer.”
Dr. Al Jaber said that ADNOC will twofold its unrefined refining limit, triple its petrochemical generation and close by its accomplices contribute US$45 billion to make the single biggest coordinated refining and petrochemicals goal on the planet. “We will team up with accomplices to expand on and grow our reality class refining resources, expanding their ability to no less than 1.5 million barrels for each day. We will likewise manufacture one of the world’s biggest blended bolster wafers, with a limit of 1.8 million tons of Ethylene and an aromatics unit ready to process more than 1.6 million tons yearly,” he included.
Dr. Sultan Al Jaber’s full proclamation is beneath: Your Excellencies, Distinguished Guests, Ladies and Gentlemen it gives me awesome delight to welcome you to ADNOC’s Downstream Investment Forum.
Where out of the blue, we will have a vital and point by point discourse about our plans to fundamentally change and extend our Downstream portfolio.
If it’s not too much trouble enable me initially to thank every one of you for making an opportunity to go along with us, for what is a turning point for ADNOC and, I trust, a day of awesome potential for ALL of us.
Sixty years back, oil was first found off our shores propelling a period that has changed the destiny of Abu Dhabi and the United Arab Emirates. The apparatus that struck oil in 1958 – called the Enterprise – was a globally coordinated effort united by the vision of the UAE’s initiative. It exemplified the soul of association that has driven the UAE’s advance, making dependable, shared financial advantages.
Also, as I check out this room today loaded with visitors from each side of the world I perceive that this same soul of the organization is the thing that will drive the following period of our industry’s advancement.
Women and Gentlemen, while hydrocarbons will stay basic for energizing the worldwide economy for quite a long time to come, the essentials of the vitality scene have moved, and finished the time of “nothing new.”
At ADNOC we have grasped these new substances by maintaining a steadfast spotlight on proficiency and expanding the estimation of each barrel we deliver.
We have driven down our generation costs, expanded our operational edges and upgraded our money-related structure to guarantee a more quick-witted utilization of capital and resources.
A year ago’s fruitful IPO of ADNOC Distribution underlines the commerciality we are applying to each edge of our business as we execute our 2030 technique based on a more beneficial upstream, a more profitable downstream and a more supportable, monetary gas supply, all supported by more proactive and versatile showcasing and exchanging.
Women and Gentlemen, our upstream business will dependably remain a centerpiece of our DNA, as we keep on being a solid cost-aggressive worldwide provider of unrefined.
In the meantime, when we take a gander at where new development is originating from, we find that the most honed development is in the downstream, where interest for petrochemicals and polymers will dramatically increase throughout the following 20 years.
More than 66% of this new request will originate from business sectors East of Abu Dhabi. Furthermore, today, we will lay out our methodology for catching that development opportunity and the part we can play together to profit by this eager procedure.
Following the orders of our astute administration, we will construct and develop the establishment that we have officially settled in the Ruwais mechanical complex.
We will twofold our rough refining limit, triple our petrochemical generation and close by our accomplices contribute US$45 billion to make the single biggest incorporated refining and petrochemicals goal on the planet.
We will use Abu Dhabi’s characteristic cost and quality favorable circumstances, which incorporate a bottomless, privately sourced, special, high review feedstock; consistent on location reconciliation with a best-in-class, attachment and-play foundation, and our focal position at the turn purpose of worldwide exchange.
Most importantly, we will expand on Abu Dhabi’s 50 years heritage as a solid, trusted, a stable accomplice of the decision to grow existing connections and produce new vital associations.
We will search for accomplices willing to put with us locally so as to become together all around. Accomplices who convey vital esteem add and access to savvy capital. Also, Partners, who offer advantaged access to high development markets.
Critically we look for accomplices, who can bring the most recent developments and out-of-the-case considering. What’s more, who comprehend that innovation isn’t a different industry, yet a key empowering influence that cuts overall enterprises.
Through the span of this Forum, we will share our point by point shrewd development methodology to satisfy the vision of our authority by turning into a main worldwide downstream player.
On a very basic level, our system will make a completely incorporated downstream biological community catching an incentive at each progression en route from product to purchaser.
We will team up with accomplices to expand on and grow our reality class refining resources, expanding their ability to no less than 1.5 million barrels for each day.
We will likewise manufacture one of the worlds biggest blended encourage wafers, with a limit of 1.8 million tons of Ethylene and an aromatics unit ready to process more than 1.6 million tons yearly.
This will give us the capacity to deliver at the scale the full scope of the fundamental base compound building squares.
Over this, we will include subsidiaries and change stop to fabricate completed items on location, finishing the last connection in the petrochemical esteem fasten and fundamentally adding to the enhancement of the UAE’s economy.
As we advance, there will be various open doors for accomplices and financial specialists to partake in an assortment of ventures inside this different and becoming modern complex.
The effect of these ventures will be substantial and dependable.
They will create alluring returns for ADNOC and its accomplices, and furthermore fundamentally deliver maintainable in nation esteem here at home contributing no less than 15,000 immediate and aberrant new employment by 2025 and one percent UAE GDP development every year.
Women and Gentlemen, some are stating that the period of oil is attracting to a nearby.
The truth of the matter is nothing could be further from reality.
Indeed it is indisputably the inverse.
Oil won’t just stay crucial for transportation, yet will develop in significance as the basic building hinders for the items that characterize day by day life.
Oil is the car. Oil is farming. Oil is the foundation. Oil is social insurance. Oil is semiconductors.
Everything from lightweight composite auto parts to high voltage protection to nano-plastics for smaller scale chips the cutting edge world is empowered and enhanced by the modest hydrocarbon particle.
Recognized visitors, In the six decades since oil was found in the UAE, our initiative has demanded we utilize this asset astutely to support our improvement as a country.
This dynamic vision still aides us right up ’til the present time as we proceed with our excursion of disclosure to augment and broaden the financial effect of our hydrocarbon saves.
Give me a chance to welcome every one of you here to today, settled accomplices and new companions alike to go along with us in pushing the limits of advance.
This is a period for the striking to advance up, to back the best inventive thoughts and grab the chance to shape our normal and effective future.
Much obliged to You.