ADNOC has announced several strategic agreements with major US energy companies during a UAE-US business dialogue attended by US President Donald J. Trump. These agreements are projected to facilitate $60 billion in US investments into UAE energy projects.
The agreements include a development plan with ExxonMobil and INPEX/JODCO to expand the capacity of Abu Dhabi’s Upper Zakum offshore field through phased development. ADNOC also signed a collaboration agreement with Occidental to explore increasing the Shah Gas field’s production capacity from 1.45 billion standard cubic feet per day (bscfd) to 1.85 bscfd, while deploying advanced technologies.
The enterprise value of UAE energy investments into the US is expected to reach $440 billion by 2035, as part of the UAE’s broader $1.4 trillion investment strategy in the country. H.E. Dr. Sultan Al Jaber, ADNOC Managing Director and Group CEO, emphasized the shared commitment between the UAE and US towards global energy security and market stability: “The deep-rooted bilateral relationship between the UAE and the US is underpinned by our shared commitment to enabling energy abundance and we are reinforcing this commitment through these agreements with US energy majors.”
XRG, ADNOC’s global investment company, plans to increase its investments across the American energy sector, focusing on gas, LNG, specialty chemicals, and infrastructure. As part of these efforts, XRG signed an agreement with Occidental subsidiary 1PointFive to potentially invest in a direct air capture project in Texas that aims to remove up to 500,000 tons of CO₂ annually.
Abu Dhabi’s Supreme Council for Financial and Economic Affairs granted an unconventional oil exploration concession to EOG Resources Inc., marking it as the first award of its kind to a US company. This underscores Abu Dhabi’s position as a trusted investment destination.
The Upper Zakum development will incorporate AI technologies and rely on clean energy sources from the UAE grid to minimize emissions while using artificial islands for drilling activities. Meanwhile, expanding Shah Gas field aims at boosting domestic industrial growth and LNG exports.
