The Abu Dhabi National Oil Company (Adnoc) has unveiled an AED165bn ($45bn) investment plan for the next five years to expand its refining and petrochemical operations in Ruwais.
The programme involves developing the Ruwais Industrial Complex through a combination of strategic partnerships and investments. The strategy aims to create more than 15,000 jobs by 2025 and increase its contribution to the national gross domestic product (GDP) by 1% per year.
Adnoc Group CEO and the United Arab Emirates (UAE) Minister of State Dr Sultan Ahmed Al Jaber said: “Given the projected increase in demand for petrochemicals and higher value refined products, we are repositioning Adnoc to become a leading global downstream player.
“We will invest significantly in Ruwais and open up attractive partnership and co-investment opportunities along our extended value chain to create a powerful new downstream engine and springboard for growth that will benefit our country, our company and our partners.”
Adnoc’s existing downstream portfolio includes eight companies with the capacity of processing 10.5bn standard cubic feet (scf) of gas per day, and a refining capacity of 922,000 barrels per day (bpd) of condensate and crude.
These entities deliver around 40 million tonnes of refined products every year, including liquefied petroleum gas (LPG), naphtha, petrol, jet fuel, gas oil and fuel oil.
The plan aims to increase the complex’s refining capacity by more than 65%, or 600,000 barrels per day by 2025.
Adnoc has planned to add another refinery. With the addition of this refinery, the total capacity would touch 1.5 million barrels per day.
The new refinery along with other projects within the Ruwais complex will increase the overall capacity, flexibility and output of Abu Dhabi’s refining operations.
The company has also decided to build a mixed-feed cracker facility to increase its production from 4.5 million tonnes per annum (mtpa) in 2016 to 14.4mtpa by 2025.
In addition, it will develop new petrochemical derivatives and conversion parks in Ruwais to strengthen the area’s manufacturing abilities.
