The Abu Dhabi National Oil Company (ADNOC) has unveiled plans to invest AED165 billion (US$45 billion) over five years to become a leading downstream player.
Under the plan, ADNOC will create the world’s largest and most advanced integrated refining and petrochemicals complex at the Ruwais Industrial Complex in the United Arab Emirates.
ADNOC’s existing downstream portfolio comprises eight companies processing 297 million cubic metres of gas per day, and with a refining capacity of 922,000 barrels per day (bpd) of condensate and crude.
They produce 40 million tonnes per year of refined products, and other products including granulated urea, liquefied petroleum gas (LPG), naphtha, gasoline, jet fuel, gas oil and base oils, fuel oil, and other petrochemical feedstock.
Plans are well advanced to expand the complex’s refining capacity by more than 65 per cent, or 600,000 bpd by 2025, through the addition of a third, new refinery, creating a total capacity of 1.5 million barrels per day.
There is also a plan to build one of the world’s largest mixed feed crackers, trebling production capacity from 4.5 mtpa in 2016 to 14.4 mtpa by 2025.
ADNOC will also develop a large-scale manufacturing ecosystem in Ruwais through the creation of a new petrochemical Derivatives and Conversion Parks on a six-square-kilometre area adjacent to the larger Ruwais complex.
The conversion park, occupying another 3.6 square kilometres, will act as a catalyst for the creation of focused industry clusters that drive expertise, innovation and entrepreneurship.
In addition to supplying feedstocks, ADNOC will make available developed land, infrastructure, utilities and shared services at attractive rates to partners.