About ADNOC United Arab Emirates
We are talking about the company in the world of oil and gas industry and which is the state-owned company of United Arab Emirates named as Abu Dhabi National Oil Company or ADNOC.
The company holds the title of being the biggest one in the UAE and for being at 12th position in the world by producing 3.1 million barrels per day. It also holds the seventh-largest reserves of oil in the world counting 97.8 billion barrels. In 2014, the company showed revenue of US$60 billion has around 55,000 employees.
When it got started?
The company came into existence in 1958 in the United Arab Emirates at Murban Bab Oil Field with an extensive 30-year search. The well was named as Murban-3 which started producing crude oil at the rate of 3,674 barrels per day in May 1960.
Its further development of pipeline took another three years finally departing its first tanker from Jebel Dhanna port on 14th December 1963. New fields were discovered including Bida Al Qemzan, Asab, Bu Hasa field, West of Bab, Shah, and Sahil fields.
The
revenue started to grow and seeing this late Sheikh Zayed bin Sultan Al Nahyan formed the company ADNOC in 1971 having headquartered in Abu Dhabi, United Arab Emirates. Since then they are contributing a lot in economic development further preserving the emirate’s hydrocarbon reserves.
What do they offer in the market?
The company is working in the market doing the business of crude oil, oil products, natural gas, and petrochemicals. They include 16 subsidiaries companies that work for upstream, midstream and downstream stages of production.
They also work for exporting natural gas as LNG in various countries thus being an integral part of the UAE economy.
What makes them so popular?
The company has shown immense growth since past 45 years keeping their focus on managing, producing and preserving the hydrocarbon reserves of Emirates.
In the market, they have managed to come up with 3 million barrels per day production of oil which places them among the largest oil producers in the world.
They have further extended their work in refining and petrochemicals following an extensive network of gas and petrol stations including the modern way of transportation with LNG and LPG carriers, oil and chemical tankers, bulk carriers and container vessels that counts to a total of 151 in the company.
