Al Mazrouei: The discoveries reflect the goal of bringing ADNOC’s production to 5 million barrels

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Suhail Al Mazrouei, Minister of Energy and Infrastructure, confirmed that the new discoveries, which include two billion barrels of conventional crude oil and 22 billion barrels of unconventional recoverable oil resources, contribute to driving economic growth in the UAE and consolidating its position as a reliable energy resource, as new discoveries of resources Conventional and unconventional oil recoverable, whose quantities are estimated at about 24 billion barrels of oil, represent a lever for the national and developmental economies of the UAE, and a key element in the stability of the global oil market, which is witnessing fluctuations in light of global changes, and will have a positive impact on the UAE and its work in OPEC While the country’s position will become an international center and supplier of energy.
He added: The discoveries support the UAE’s plans for the next 50 years, and the UAE’s development path in various fields. They will also contribute to attracting many foreign investments, which the country sees as a safe haven in light of the rapid transformations that the world is witnessing, and a platform for creating new investment opportunities linked in all stages and fields. The oil sector.
The minister emphasized that the new oil discoveries contribute to the consolidation of the UAE’s position as a major player in the global oil market, as it reflects the continuous development processes undertaken by ADNOC in its endeavor to achieve its goal of increasing production capacity to 5 million barrels of oil per day by 2030.
The new oil discoveries in establishing the UAE’s position as a major player on the global oil map, thus the country can meet the increasing demand for oil and increase its production capacity to 5 million barrels per day by 2030, indicating that the UAE, thanks to this achievement, is able to overcome the pandemic Corona ably, and get out of it more powerful.
Al Mazrouei explained to the importance of the discoveries, as the energy sector in the UAE is one of the important sectors that has witnessed remarkable developments in recent decades.
He said: In line with the directives of the wise leadership and the National Energy Strategy 2050, the state is keen to diversify energy sources to keep pace with growing demand and to ensure a balance between economic needs and environmental goals. In diversifying energy sources to keep pace with growing demand, and for that, the National Energy Strategy 2050 was launched, which seeks to promote the use of environmentally friendly energy and reduce dependence on other fuel sources over the next three decades.

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