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Media In – Abu Dhabi 15 May 2018 / WAM /
ABU DHABI – Abu Dhabi National Oil Company (ADNOC) and Morocco’s Al-Sharif phosphate complex have agreed to discuss the development of a joint global fertilizer production project in a move that will speed up the implementation of ADNOC’s strategy and the expansion of the Moroccan company.
The proposed joint venture will build on the competitive advantages of ADNOC’s global expertise in the production of sulfur, ammonia and gas and its advanced logistics services and the potential of the phosphate phosphate complex to access the world’s largest phosphate resources and centuries of experience in the production and marketing of fertilizers. Development of a new international fertilizer production company through two centers, one in the UAE and one in Morocco, using both existing and new assets, allowing the joint venture products to reach world markets.
The agreement is in line with ADNOC’s partnership expansion program unveiled last year by the company, which aims to build strategic partnerships and expand investments to cover all aspects of the oil sector, said Dr. Sultan bin Ahmed Al Jaber, Minister of State and Chief Executive Officer of Abu Dhabi National Oil Company (ADNOC) and its group of companies. And gas. We look forward to working with strategic partners who are able to play a complementary role in our expertise in employing advanced technology and enhancing our products’ access to new markets.
The agreement is part of ADNOC’s plans to increase its current sulfur production by at least 50 percent from its current 7 million tonnes a year through the exploitation of gas caps and the expansion of sour gas production.
The agreement was signed on the sidelines of ADNOC’s refining and petrochemicals conference, during which ADNOC’s plans to enhance its position as a global player in refining and petrochemical industries were unveiled.
