Al Jaber News

COP28 has concluded with agreement on a text named The UAE Consensus that aims to set out a climate agenda to keep 1.5°C within reach. The UAE Consensus calls on parties to transition away from fossil fuels to reach net zero, encourages them to submit economy-wide Nationally Determined Contributions, includes a new specific target to triple renewables and double energy efficiency by 2030, and builds momentum towards a new architecture for climate finance.The UAE Consensus followed a year of inclusive diplomatic engagements and two weeks of intense negotiations.

State oil giant Abu Dhabi National Oil Co (ADNOC) plans to float its marine and logistics subsidiary in the coming months, two sources said, the second initial public offering of one of its businesses this year.ADNOC, which raised $2.5 billion from listing its gas business in March, is gearing up for a June listing of ADNOC Logistics & Services (ADNOC L&S), said the sources, declining to be named as the matter is not public.HSBC was appointed as joint global coordinator on the syndicate this week…

With a goal of creating more artificial intelligence (AI) led solutions for the oil and gas sector, Abu Dhabi National Oil Company (ADNOC)  has signed a deal with compatriot technology company Group 42 (G42) to create a new joint venture.The JV will be tasked with developing and commercializing market-leading AI products for the energy sector.The agreement was signed at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) by Omar Suwaina Al Suwaidi, Director, Executive Office Directorate, ADNOC, and Peng Xiao, CEO of G42. The signing of the agreement was witnessed by His Excellency Dr Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO.Dr Al Jaber said: “As we prepare for the opportunities and challenges the 4th industrial age will present…

Abu Dhabi National Oil Company (ADNOC) said that it has launched the second exploration bid round for five new oil and gas blocks.The bidding will be for both conventional and unconventional resources, and the successful bidders will enter into agreements granting them exploration rights, ADNOC said in a statement.The new blocks are three offshore and two onshore.The five new blocks open for are known as Offshore Block 3, Offshore Block 4, Offshore Block 5, Onshore Block 5 and Onshore Block 2, with the latter offering two separate licensing opportunities for conventional and unconventional oil and gas, respectively. In total, the five blocks comprise an area of approximately 34…

Abu Dhabi State-Owned Oil Company Adnoc has sealed a $4 billion midstream pipeline infrastructure deal with BlackRock, the world's largest asset manager, and private equity firm KKR & Co.The Middle East national oil company said that the transaction includes the creation of Adnoc Oil Pipelines, which will lease Adnoc's interest in 18 pipelines and give rights to transport crude and condensates from Adnoc's onshore and offshore concessions over 23 years.BlackRock and KKR will form a consortium to hold a 40% stake in Adnoc Oil Pipelines, while Adnoc Infrastructure, a fully-owned Adnoc subsidiary, will retain the remaining 60%. Adnoc estimated its proceeds at about $4 billion. Sovereignty over the pipelines and management of pipeline operations remain with Adnoc.

State-owned Abu Dhabi National Oil Company has awarded a contract worth Dh5 billion (USD1.36bln) to a UAE-based company for dredging, land reclamation and marine construction for artificial islands being developed as part of its offshore ultra sour Ghasha concession.The contract awarded to the UAE’s National Marine Dredging Company (NMDC) is valued at AED 5 billion (US 1.36 billion) and will achieve substantial In-Country Value of over 70 percent. The Ghasha Concession consists of the Hail, Ghasha, Dalma, Nasr and Mubarraz offshore sour gas fields.Under the terms of the contract, NMDC will construct 10 new artificial islands and two causeways…

The state-owned energy giants of Saudi Arabia and the United Arab Emirates, Saudi Aramco and Abu Dhabi National Oil Company (ADNOC), signed a cooperation deal to explore potential areas for mutual collaboration in the LNG value chain aimed at bolstering gas production and revenue.The Saudi Arabian national petroleum and natural gas company based in Dhahran said in a press release that it has signed a framework agreement  with ADNOC to explore opportunities for collaboration in the Natural Gas and Liquefied Natural Gas (LNG) sector.The cooperation brings together two of the world’s leading energy producers from the Arabian Gulf to jointly work together in an area of strategic importance for both companies as they seek to boost revenues from the natural gas and LNG business segments…

Abu Dhabi National Oil Company (Adnoc) has awarded a 40 per cent stake in the Ruwais Diyab gas concession to French energy major Total.Adnoc group, for which the award is an important milestone to reach the target of 1 Bcfd of unconventional gas production before 2030, said in a press release that it will retain a 60% stake in the concession.Under the terms of the agreement, Total will explore, appraise and develop the concession area’s unconventional gas resources.The agreement includes a six to seven-year exploration and appraisal phase which will then be followed by a 40-year production term. It was signed in ADNOC’s Thamama Subsurface Collaboration Center, by Dr. Sultan Ahmed Al Jaber, ADNOC Group Chief Executive Officer, and Patrick Pouyanné, CEO and Chairman of Total.

The Abu Dhabi National Oil Company (ADNOC) has awarded contracts worth AED 5.88bn (US $1.6bn) for the world’s largest continuous 3D onshore and offshore seismic survey, covering an area up to 53,000 square kilometres, as the company continues to identify and unlock new opportunities and maximize value from its hydrocarbon resources and deliver on its 2030 smart growth strategy.Adding to the 2D and 3D seismic data already acquired across Abu Dhabi, the new seismic survey will cover an area of up to 30,000 km2 offshore and 23,000 km2 onshore.The contract has been awarded by ADNOC to BGP Inc., a subsidiary of China National Petroleum Company (CNPC)…

The Abu Dhabi National Oil Company (ADNOC) has signed agreements with Total of France, awarding them stakes in two of Abu Dhabi’s new offshore concessions. Under the terms of the agreements, Total has been awarded a 20% interest in the Umm Shaif and Nasr concession and a 5% interest in the Lower Zakum concession. Total is ADNOC’s largest and one of its longest international partners, active in Abu Dhabi’s oil and gas sector since 1939. Today, the French super-major collaborates with ADNOC across the value chain, from offshore and onshore exploration, development and production, to processing, products and shipping. Total contributed…

Abu Dhabi Ports and Cosco Shipping Ports Limited (CSP) and Abu Dhabi Ports broke ground for the construction of a new container terminal at Khalifa Port during a high-profile event on Sunday, reported WAM. The ports also signed an agreement with Abu Dhabi Ports Company for a container freight station, which is expected to be the largest in the region. The new container freight station will provide Abu Dhabi trade with a state of the art facility offering bonded 'LCL/FCL' consolidation and de-consolidation services, cross stuffing, cargo weight reduction, short term warehousing for de-consolidated cargo as well as easy connectivity with the container terminals in Khalifa Port.

Abu Dhabi Ports has signed a container terminal concession agreement with COSCO SHIPPING Ports Limited - Abu Dhabi (CSPL SPV), a wholly-owned subsidiary of container terminal operator COSCO SHIPPING Ports Limited, a subsidiary of China COSCO SHIPPING Corporation Limited. The event was held in the presence of His Excellency Dr. Sultan Ahmed Al Jaber, the UAE Minister of State and Chairman of Abu Dhabi Ports, Zheng Chiping, Deputy Director of the foreign investment department of the National Development and Reform Commission of PRC and Wan Min…

Abu Dhabi Ports – the master developer, operator and manager of ports and Khalifa Industrial Zone in the Emirate, recently completed extensive redevelopment work at Al Mirfa Port, upgrading its infrastructure and facilities to better serve the community. The extensive redevelopment work is part of Abu Dhabi Ports’ commitment to diversifying the Emirate’s economy by supporting and serving local communities. The infrastructural upgrade, newly established facilities and improved standards of services have now positioned Al Mirfa Port to become the first port dedicated to supporting the fishing industry and community in the Emirate. Praising the variety of services and the overall enhancements completed at Al Mirfa Port, H.E.

Under the patronage of H.H. Sheikh Hamdan bin Zayed Al Nahyan, the Ruler's Representative in the Western Region, H.E. Dr Sultan Ahmed Al Jaber, Minister of State and Chairman of Abu Dhabi Ports, officially inaugurated Al Mirfa Port in the Western Region of Abu Dhabi. Abu Dhabi Ports – the master developer, operator and manager of ports and Khalifa Industrial Zone in the Emirate, recently completed redevelopment work at Al Mirfa Port, upgrading its infrastructure and facilities.

UAE dredging and marine construction firm National Marine Dredging Company (NMDC) has announced the completion of the New Suez Canal project. The $8bn (£5bn) project had been projected to take three years but on the orders of the president, Abdel Fatah al-Sisi, the former military chief who led the overthrow of an elected Islamist government in 2013, was completed after one year. Dr Sultan Al Jaber, Minister of State and chairman of the UAE-backed Coordination Office of Development Projects in Egypt, said that a new Suez Canal channel would cement Egypt’s role as a keystone in the world economy. “We are proud that the UAE National Marine Dredging Company was heavily involved in this project…

After a record-breaking opening day at the Middle East Workboats & Offshore Marine 2013, when six new contracts were signed on site, more were to follow, including a crew boat construction order for Grandweld. The Middle East’s largest shipbuilder Grandweld Shipyards secured a repeat order worth AED18.35 million to build a new 42 metre aluminum crew boat for Khalid Faraj Shipping. This is the third order received by Grandweld from Khalid Faraj Shipping over the last five months. “The crew boat is based on Grandweld’s existing proven design, and can reach speeds in excess of 26 knots.

Kuwait invests $1.2 billion in bid for Northern Gulf gateway for new port facilities as regional market competition intensifies. A recent World Bank report ranked Kuwait in 36th place out of 155 countries in terms of the movement of goods and services through its ports, but traffic congestion at existing locations has prompted significant investment into new facilities in order to capitalise on commercial potential and secure gateway status for the Northern Gulf region.

The award recognises Masdar's work in deploying renewable energy projects including Shams One, a 100MW concentrated solar power plant in Abu Dhabi; London Array, a 1GW offshore wind farm, and Gemasolar, a 20MW concentrating solar thermal plant. Abu Dhabi’s renewable energy company, Masdar, invests in clean technologies, deploys renewable energy projects and is building a city that adheres to the most rigorous sustainability standards. Masdar also invests in intellectual and human capital through the Masdar Institute of Science and Technology. Organised by United Nations Environment Programme (UNEP), the award seeks to honour individuals whose actions and leadership have made a far-reaching positive impact on the environment. “I am honoured to be a recipient of this prestigious award.

Jadaf Dubai, Arabian Gulf’s oldest ship repair and industrial marine yard has recorded a 35 per cent jump in revenues for the year 2005, compared to the corresponding period in 2004. The announcement comes close on the heels of a seven per cent increase in its ship lifting and repairing activities, owing to greater demand for its service and expertise. The yard’s two docks repaired and carried out maintenance of a total of 2347 ships during 2005, with 166 more ships being docked, undocked and re-docked as compared to the 2181 vessels it catered to during 2004.The excellent revenues were posted in part due to the increase in surcharge for berthing in-out and block arrangement, cleaning services, docking and undocking charges, wharfage charges and bank interest earned on monies.

Regional demand for fast vessels carrying between eight and up to 300 passengers could exceed 400 over the next 10 years, said shipbuilders from countries such as the Netherlands, Turkey, Norway and Australia hoping to win a share of orders. “We are anticipating there is going to be a huge demand for passenger transport of all kinds,” said Martin de Bruijn, Middle East sales director for Damen Shipyards of the Netherlands which recently announced a joint venture with Albwardy Marine Engineering of Dubai.