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Abu Dhabi 11-09-2019
His Excellency Dr. Sultan bin Ahmed Al Jaber, Minister of State and CEO of Abu Dhabi National Oil Company (ADNOC) and its Group of Companies, met today with Alexander Novak, Minister of Energy of the Russian Federation, at ADNOC Headquarters as part of the Russian Minister’s visit to Abu Dhabi to participate in the 24th World Energy Conference Which will take place from 9 to 12 September.
His Excellency Dr. Sultan Al Jaber welcomed Alexander Novak, stressing the UAE leadership’s interest in enhancing bilateral relations with the Russian Federation in various fields, pointing out the need to explore, study and invest opportunities to enhance cooperation between the two friendly countries.
The meeting discussed opportunities and potential areas of cooperation as ADNOC seeks to expand its strategic partnerships and investments in all fields and phases of the oil and gas sector. The meeting comes as a continuation of the talks held between the two parties during the meeting held in Moscow last July.
HE Dr. Sultan Al Jaber said: “In line with our leadership’s approach to building bridges of communication and cooperation, we are pleased to welcome His Excellency Alexander Novak at ADNOC. This visit reflects the friendly relations between the UAE and the Russian Federation and the continuous efforts to strengthen them. New opportunities for cooperation in the energy sector As ADNOC seeks to explore opportunities for partnerships and joint investment in all areas and stages of the energy sector and works to establish strategic partnerships that bring added value with new partners who share the same vision and goals.
His Excellency Dr. Sultan Al Jaber accompanied Alexander Novak and visitors on a tour of the Panorama Center for digital control, which collects and analyzes accurate and direct data covering all the activities and operations of the group, which was established within the plan of ADNOC digital transformation and benefit from artificial intelligence to raise efficiency and improve performance and enhance value In all aspects and stages of the value chain in the oil and gas sector.
During the tour, HE Alexander Novak was briefed on how the company uses big data technologies and artificial intelligence to help maximize the value of its assets, operations and resources.
For his part, Alexander Novak stressed the keenness of the Russian Federation to explore opportunities for cooperation and partnerships in all areas of the oil and gas sector in the UAE, said: “There are many promising opportunities for cooperation in the field of energy between oil and gas companies in the UAE and Russia, which lies in the development Commercial activities in the field of hydrocarbon resources as well as joint ventures in the fields of mining and trade. ”
The Panorama Center provides a unified window displaying live data covering all ADNOC operations in the areas of exploration, development and production, gas processing, refining and petrochemicals, sales volume, marketing and product transportation for customers worldwide as well as services and supply, through a modern 50-meter screen extending From floor to ceiling.
The Center also uses smart analytics models, advanced AI platforms and big data to provide an effective way to get accurate and straightforward information about ADNOC’s operations and activities, and data across the Group’s companies.This enables us to know and suggest the best ways and means to ensure performance enhancement, value creation and optimization of assets.
The Russian Federation has the largest reserves of natural gas and the ninth largest oil reserves in the world.
Trade exchange between the two countries has witnessed qualitative transfers after rising last year to reach 11 billion dirhams, up 21% from the previous year.
The UAE-Russia relations were further strengthened following the strategic visit of His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, during which he met with President Vladimir Putin of the Russian Federation, during which the two leaders signed a strategic partnership covering political and security fields. And economic.
The expansion of strategic partnerships and joint investments is a key pillar of ADNOC’s 2030 Intelligent Growth strategy, which focuses on growth by providing more opportunities in the company’s business across the oil and gas industry.
Last year, ADNOC stepped up its efforts to increase operational efficiency, enhance business value and generate new revenue streams through partnerships that leverage integration.
Initiatives announced by ADNOC over the past 12 months include the construction of the world’s largest nitrogen fertilizer export platform through a joint venture with OCI, a strategic partnership agreement with Baker Hughes to provide integrated drilling services, and a strategic partnership with two companies. ENI and OMV to set up a trading company to trade products, and ADNOC has entered into an agreement to acquire a 10% stake in PTI, the world’s leading petroleum storage terminal operator that operates in 14 countries worldwide. Distributed among America, Africa, Asia, and the Middle East, this contributes only The strategy will invest in enhancing ADNOC’s oil storage and trading capabilities and in responding quickly and flexibly to growing customer needs and capitalizing on the growth of new markets around the world.
ADNOC is also moving ahead with increasing its oil production capacity to 4 million barrels per day (bpd) by 2020 and to 5 million bpd in 2030 with natural gas self-sufficiency and the possibility of becoming a source.
ADNOC is also working on significant expansions
