Abu Dhabi state oil giant Adnoc only launched its 2020 targets in 2018, but as the finishing line heaves into view, it looks well placed to achieve its ambitious goal. Before even reaching its long-standing 2018 target of 3.5mn b/d capacity, Adnoc announced a significant upgrade – to 4mn b/d in 2020 and 5mn b/d by 2030 (MEES, 9 November 2018).
These are ambitious targets. But there are reasons to be confident in Adnoc’s ability to at least get close. The firm has certainly developed a culture of success in recent years – reaching its 3.5mn b/d target, widening its partner base through concession renewals, and successfully rolling out its debut licensing round in 2019 are just a few examples. Adnoc is also partnered with industry leading IOCs at the key fields slated to provide the gains. (CONTINUED - 1033 WORDS)
