Abu Dhabi’s ADNOC, Exxon Mobil CEOs ‘discuss prospects of long-term partnership’ between the two firms

Arab News
Dr. Sultan Al-Jaber, CEO of ADNOC (R) with Darren Woods, CEO of Exxon Mobil at the Bloomberg World Forum. (Twitter: @AdnocGroup)
  • Two met at Bloomberg World Forum in Singapore
  • ADNOC also announced on Monday plans to launch new integrated gas strategy and increase oil production

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.

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.

Topics: business economy Oil ADNOC Exxon Mobil Singapore Bloomberg Abu Dhabi