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ADNOC’s board of directors approved increasing the investments in the emission reduction projects to AED 84 billion ($23 billion), the firm said in a statement on Monday.
The fields in which the company is set to invest will boost the firm’s activities locally and globally in carbon management platforms.
The company also seeks to drive $48.6 billion back into the UAE economy over the coming five years, “building on $11.2 billion (AED41 billion) generated through its in-country value (ICV) program in 2023.”
ADNOC has created 6,500 jobs for UAE nationals in the private sector in 2023 through the ICV.
According to the company, this helped pump around $51 billion in the economy in the UAE, since the programme was launched in 2018.
