ADOC To Inject Investments in UAE Oil Sector Says Takahiko
According to a senior corporate executive, Abu Dhabi Oil Co Ltd is injecting more investments and expansions in the UAE.
Takahiko Shingai, Deputy General Manager and Director of Development Department at ADOC, added on the sidelines of the ADIPEC 2023 exhibition and conference that:’’ We are planning to expand our production facilities and increasing extraction rates after we have delivered many achievements and implemented successful operations in the UAE over the past 50 years.’’
He noted that the UAE is one of most important suppliers of oil to Japan. He added that ADOC is a significant leverage in advancing the close relations between the UAE and Japan through its investment projects in the UAE oil sector for more than 50 years, as per wam news.
ADOC is currently expanding its assets in the UAE in order to contribute more significantly and solidly to the UAE economy.
Abu Dhabi Oil Co., Ltd. (Japan) (ADOC) was founded on January 17, 1968. On February 2, 2011, ADOC signed a new concession agreement to continue oil production from three oil fields after the expiration of the previous Concession Agreement on December 6, 2012, for a period of 30 years, as well as the development of some structures in the Hail Field adjacent to Mubarraz Island.
ADOC, a 100% Japanese-owned oil development corporation, has developed an intricate optimum operation system in close collaboration with ADNOC over the years. ADOC has been highly acclaimed in Abu Dhabi for its consistent successes since its inception.