SINGAPORE: The chief executive of Abu Dhabi National Oil Company (ADNOC) met with Darren Woods, the CEO of Exxon Mobil on the sidelines of the Bloomberg World Forum in Singapore on Monday.
According to a tweet on ADNOC’s official Twitter page, the two discussed “prospect of long-term partnership" between the two companies.
On the sidelines of @Bloomberg’s #NewEconForum in #Singapore, #ADNOC CEO H.E. Dr. #SultanAlJaber and @ExxonMobil Chairman & CEO Darren Woods met to discuss the future of the energy industry and explore the horizon of ADNOC's & Exxon's long-standing partnership. #energypartnership pic.twitter.com/FG1JnzhfbL
— ADNOC Group (@AdnocGroup) November 5, 2018
ADNOC also announced on Monday its plans to launch a new integrated gas strategy and increase its oil production capacity to 4 million barrels per day (mmbpd) by the end of 2020 and 5mmbpd by 2030, following approval from the Supreme Petroleum Council (SPC), the highest governing body of the oil and gas industry in Abu Dhabi.
The company also announced capital investment growth of $132.33 billion between 2019-2023 and new discoveries of 1 billion barrels of oil.