ADNOC Unveils Dh200b Project Pipeline to Drive UAE Industrial Growth

ADNOC announced a Dh200 billion ($54.5 billion) project pipeline for the 2024–2028 period at its annual Business Partnership Forum. The capital expenditure plan aims to expand oil and gas production capacity and scale its chemical and renewables portfolio to support long-term revenue growth. Capital Allocation and Local Spending The state energy firm confirmed it will direct Dh178 billion of this investment back into the local economy through its In-Country Value (ICV) program. Since 2018, the ICV framework has already redirected Dh187 billion into the UAE private sector. Under the new five-year plan, ADNOC targets the creation of 10,000 jobs for UAE nationals within the private sector by 2028, in coordination with the Emirati Talent Competitiveness Council (Nafis). Recent major contracts underline this spending trajectory. ADNOC recently awarded Dh61 billion in engineering, procurement, and construction (EPC) contracts for the Ruwais LNG project. Additionally, Dh24 billion has been allocated for the Hail and Ghasha sour gas development, which integrates carbon capture and storage technologies to minimize operational emissions. Industrialization and Manufacturing Drive The…