Adnoc CEO and Russian energy minister explore energy investment opportunities

Abu Dhabi, September 13 - Neftegaz.RU. Sultan Ahmed Al Jaber, CEO of Abu Dhabi National Oil Company (ADNOC), and Alexander Novak, Russia's Minister of Energy, met in the UAE to explore potential opportunities for collaboration.

During the visit, A.Novak visited ADNOC’s pioneering Panorama digital command center to see how ADNOC is using big data technologies and artificial intelligence to help extract maximum value from its assets and resources.

The center aggregates accurate, real time information from ADNOC’s operations and businesses, presenting data at a Group-wide level but also giving access to information from individual assets.

“Building on the strong bilateral relationship, which exists between the UAE and Russia, there is significant potential for further collaboration on energy issues", Al Jaber said.

“Cooperation in the field of energy has enormous potential. Promising areas for collaboration between companies from Russia and the UAE lie in the development of trading activities in hydrocarbons as well as joint projects in the fields of mining and trading”, A. Novak said.

ADNOC is on track to increase its crude oil production capacity to 4 million barrels per day (mmbpd) by 2020, and 5mmbpd by 2030, while becoming self-sufficient and eventually a net exporter of natural gas.

Bilateral trade between Russia and the UAE rose 21% last year to total over $3 billion.

To read the news in Russian.