Abu Dhabi confirms $30bn energy investment plan

02/07/2010 - Northern Emirates Property & Investment News
Abu Dhabi confirms $30bn energy investment plan

Posted by Bob Brunskill

The Abu Dhabi government has confirmed it will press ahead with a huge $30 billion investment programme for the development of the emirate's hydrocarbon sector.

Abdul Aziz Al Ameri, deputy chief executive officer for large projects at the government-controlled Abu Dhabi Gas Company, said the programme involves about 37 projects for expanding the oil and gas industry and developing petrochemical facilities.

Speaking to Emirates Business 24/7 at an oil logistics seminar, he also noted that many local and international companies are participating in the projects on a contractual joint venture basis with a view to completion by 2014.

The investment programme, launched in 2009, aims to tap into Abu Dhabi's massive hydrocarbon wealth in order to meet domestic and foreign demand.

Among the companies playing a major role in the initiative is the Abu Dhabi Company for Onshore Operations. It expects to increase its crude output to nearly 1.8 million barrels per day (bpd) from less than 1.4 million bpd under the scheme, Emirates Business said.

Meanwhile, it was reported earlier this week that the Abu Dhabi government has awarded Salcon, a leading global specialist in water and wastewater engineering, a AED55 million contract to construct a new water recycling plant for the enhanced treatment of treated sewage effluent in the emirate.ADNFCR-2019-ID-19871440-ADNFCR