As the country’s oldest oil production company, our operations date back to 1939, when a 75-year concession was signed to explore for oil and gas in Abu Dhabi.
In 1950, we drilled our first exploration well at Ra’s Sadr, followed by a second in 1958, which led to the first discovery of oil in the country. In 1960, the first commercial discovery of Murban crude was announced, in what is now the BAB oil field.
In 1963, the first barrel of oil left from our Jebel Dhanna Terminal, forever shaping our country’s future as a key energy exporter.
In 2015, a fresh round of concessions brought new partners and technologies on-board to help accelerate the delivery of ADNOC’s 2030 smart growth strategy. Subsequently, a 40% stake was granted to international strategic partners: TOTAL (10%), BP (10%), CNPC (8%), INPEX/JODCO (5%), ZhenHua Oil (4%), and GS Energy (3%), with ADNOC taking a 60% stake.
These value-added partnerships help us to drive innovation, enhance operational efficiency, allow foreign market access, and provide access to capital for a more profitable upstream business.
As a global industry leader in environmental sustainability, we are the first in the world to capture carbon from the iron and steel industry. Our Carbon Capture, Utilization, and Storage (CCUS) facility at Al Reyadah has the capacity to capture 800,000 tonnes of carbon dioxide (CO2) from Emirates Steel Industries (ESI) each year, for use in the Bab and Rumaitha oil fields to support Enhanced Oil Recovery (EOR). Al Reyadah is, therefore, a critical enabler of ADNOC’s 2030 sustainability goals.
As part of our commitment to preserving our natural assets for generations to come, we have developed biodiversity plans to help protect the unique marine life and wildlife at the Al Nouf and Qusahwira oil fields.