Abu Dhabi Oil Co (Japan) to invest more in UAE
- 03 Oct 2023
Abu Dhabi Oil Co., Ltd. (Japan) (ADOC) is planning more investments and expansions in the UAE, according to a senior company official.
Takahiko Shingai, Deputy General Manager and Director of Development Department at ADOC, told the Emirates News Agency (WAM) on the sidelines of the ADIPEC 2023 exhibition and conference: ’’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.
ADOC is currently developing its assets in the UAE to contribute significantly and more robustly to the UAE economy.
On January 17, 1968, Abu Dhabi Oil Co., Ltd. (Japan) (ADOC) was established. On February 2, 2011, ADOC signed a new concession agreement to continue production of oil from three oilfields after the expiry of the former Concession Agreement on December 6, 2012, for a period of 30 years together with the development of some structures of the Hail Field which is adjacent to Mubarraz Island.
WAM