Adnoc's Accelerated $55 Billion Project Pipeline (2026-2028)

State-owned Abu Dhabi National Oil Company (Adnoc) has announced plans to award 200 billion Emirati dirhams ($55 billion) worth of projects between 2026 and 2028, accelerating its spending strategy. This move follows the United Arab Emirates' departure from the Opec cartel. The planned awards align with a five-year capital expenditure plan approved by Adnoc's board last year, and are part of a broader $150 billion spending plan through 2030.

Expansion of Oil and Gas Production Capacity

Adnoc is expanding its oil production capacity to 5 million barrels per day, up from the current 4.85 million bpd. Simultaneously, the company is heavily investing to scale up Abu Dhabi's gas production, aiming to become a key Middle East liquefied natural gas (LNG) exporter by the end of the decade. Key projects include expanding major offshore oilfields such as Upper Zakum, Lower Zakum, Umm Shaif, and Belbazem, as well as progressing the Ruwais LNG project, which has a total liquefaction capacity of 9.6 million tonnes per annum (tpa). This is intended to more than double Adnoc's existing UAE LNG production capacity to around 15 million tpa.

Strategic Focus and Localization

The $55 billion project pipeline spans both upstream and downstream operations, marking a new phase of project delivery designed to boost the UAE's manufacturing capacity and accelerate its in-country value localization program. The announcement was made at the 'Make it with Adnoc forum' in Abu Dhabi, where leading engineering, procurement, and construction (EPC) contractors connected with 70 local UAE manufacturers. Adnoc Group CEO Sultan Ahmed Al Jaber stated the company is entering a "defining execution phase" driven by scale, pace, and a focus on delivery, aimed at meeting rising global energy demand while strengthening the UAE's industrial and manufacturing base.