ABU DHABI, 28th November 2016 (WAM) – Over 2,000 Abu Dhabi National Oil Company (ADNOC) Group employees, from across 18 operating companies, walked together, today, from ADNOC’s headquarters to the headquarters of the Abu Dhabi Company for Onshore Petroleum Operations (ADCO), and back, to mark the 45th anniversary of the founding of ADNOC on November 28,1971.
Dr Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO and ADNOC’s senior leadership jointly led the 45 hundred metres walk, on Abu Dhabi’s Corniche, held to celebrate 45 years of contributing to the socio-economic development of Abu Dhabi and the wider UAE.
Dr Al Jaber said: “This walk is a visible and tangible demonstration of the unity of purpose that exists across the organisation and everyone’s commitment to the growth path we have embarked upon, as together we build on the legacy of success of the past 45 years.
“Our new strategy and five-year business plan will ensure ADNOC continues to deliver on its vision, as we drive efficiencies, create synergies and maximise the value of our resources, for the benefit of the UAE and the community.
The ADNOC 45th Anniversary Walk not only celebrates the journey so far, but also signifies a new, exciting and positive future for ADNOC, as we work as one team to deliver the strategic objectives set for us by the country’s leadership,” Dr Al Jaber added.
As well as marking the founding of ADNOC, the walk also symbolizes the commitment of everyone at ADNOC to the organisation’s new corporate culture, which includes being innovative, agile, values driven, seeking excellence, delivering results and exceeding expectations.
The route of the walk, from ADNOC’s headquarters to ADCO, and back, was chosen to highlight the historic link between ADNOC and the start of commercial oil operations in Abu Dhabi.
While ADNOC was founded in 1971, ADCO has a direct link to the first commercial discovery of oil, made at Bab, in 1960, by the Petroleum Development Company. Two years after the Bab discovery PDTC, was renamed the Abu Dhabi Petroleum Company, which was then shortened to ADCO.
Today, ADNOC is one of the world’s leading energy companies with a production capacity of 3.15 million barrels of oil and 9.6 billion cubic feet of raw gas per day. It manages 95% of the UAE’s proven oil reserves and 92% of the country’s gas reserves and operates across the entire hydrocarbon value chain.
Through its network of 18 specialist subsidiary and joint venture companies, it has interests that range from exploration, production, refining and distribution, to the development of a wide-range of petrochemical products.
Earlier this month, Abu Dhabi’s Supreme Petroleum Council (SPC) approved ADNOC’s 2030 Strategy and five-year business plan, that has a clear focus on delivering more valuable and profitable upstream and downstream businesses, while ensuring an economic and sustainable supply of gas, in line with the Abu Dhabi leadership’s directives.