ABU DHABI NATIONAL OIL COMPANY (ADNOC)
INTRODUCTION
ADNOC (Abu Dhabi National Oil Company) is one of the world’s top energy producers and is the primary factor in the growth and development of the Abu Dhabi economy. Daily production capability of more than 4 million barrels of crude and up to 11.5 billion cubic feet of natural gas, we work across the whole hydrocarbon value chain (www.ambitionbox.com, 2022). We have a network with companies that are completely engaged in petrochemical product creation as well as exploring, manufacturing, storage, refining, and marketing.
Established in 1971, for the amplification of UAE’s energy resources, ADNOC has been responsible, for meeting the demands of a dynamic energy market and ultimately transforming our country. Since our foundation, we have put in a lot of effort to uphold the legacy of the UAE’s founding fathers by thinking artistically, challenging protocols, and seeking excellence in whatever we do.
In the worldwide emergence of Abu Dhabi, our work plays a very important role. We have helped our people to understand their immense potential, we have promoted economic growth, made investments in future-oriented education and research, and also contributed to the creation of thousands of employment.
More than 50,000 people in our company are native to UAE and other countries, with more than 100 different nationalities in the company. Approved by their different opinions and diverse skill sets, our employees share a collective responsibility to speed up the process, both here in the UAE and around the world.
With an idealistic view of the future, we keep looking for new methods to gain the benefits of our resources while applying the most recent technology, creating connections that benefit both parties, as well as promoting in-country value. Simultaneously, we are focused on maintaining our beneficial impact in the communities where we will continue to operate whereas the Abu Dhabi economy continues to grow.
ADNOC works across the entire hydrocarbon value chain through a network of fully integrated enterprises (Who We Are, n.d.). These firms are involved in the creation of petrochemical products as well as their production, storage, and their distribution.
For more than 46 years, ADNOC has made a major economic contribution to Abu Dhabi by managing, developing, and preserving the Emirate’s hydrocarbon reserves on behalf of the Abu Dhabi Government. The main force behind the Emirate's development is ADNOC, and the results of our labor have raised countless living standards of people. Since 1971, ADNOC has created thousands of employment, encouraged the growth of a large knowledge-based economy, and made a big contribution to Abu Dhabi’s growth on the world stage.
Today, ADNOC is still searching for advancement and cutting-edge technologies to maximize our resources. By doing this, we will be able to meet the requirements of a developing energy market and contribute to Abu Dhabi’s economy for many generations to come.
SDGs of the company
Abu Dhabi National Oil Company (ADNOC) has announced complete sustainability goals, expanding on its legacy of responsible oil and gas production and confirming its hard devotion to environmental management. It was announced by His Highness Dr. Sultan Ahmed Al Jaber of the United Arab Emirates, speaking at (Abu Dhabi? Sustainability Week) ADSW ‘s opening ceremony.
Aims for sustainability support ADNOC’s goal of attaining optimum sustainability while maximizing value for the United Arab Emirates (UAE). Also, they emphasize ADNOC’s strong environmental, social, and governance (ESG) performance as it responds to the increasing demand for energy around the world and fulfills its 2030 smart growth strategy. Further, they are in line with the sustainable development goals (SDGs)’s of the United nation (UN) regarding sustainable consumption and production, environmental policy, biodiversity protection, and expanding economic opportunity.?
According to the International Association of Oil and Gas Producers (IOGP), ADNOC currently ranks among the top five lowest GHG emitters in the oil and gas industry and has the lowest methane intensity of 0.01 percent. As part of its sustainability goals, ADNOC plans to decrease its greenhouse gas (GHG) emissions intensity by 25 percent by 2030, consequently, the company will rank among the least carbon-intensive oil and gas producers worldwide.
Additionally, ADNOC also commits to keep its freshwater usage percentage below 0.5 percent of total water use. To ensure compliance with ADNOC’s strict discharge standards, now more than 99 percent of water used by ADNOC for cooling purposes is extracted sea water, which is then returned to sea after being treated.
ADNOC will also keep up its efforts to safeguard and promote biodiversity throughout each of its operations and the larger surrounding environment. By the end of 2022, ADNOC intends to have planted 10 million mangrove saplings in the Al Dhafra Region of the emirate of Abu Dhabi as part of its commitment.
At the same time, ADNOC's plan In-Country Value (ICV) is a crucial tool for achieving its goal of promoting advancement and development in the UAE. Since the program is launched in January 2018, to encourage private-sector partnerships, catalyze socio-economic development, enhance knowledge transfer, and generate skilled jobs for UAE nationals.
For the development in the UAE, ADNOC has launched a program called ICV which is the main factor for the commitment and dedication to encourage progress. Since the program's debut in January 2018, it has contributed more than AED 44 billion ($12 billion) back into the UAE economy and given rise to more than 1,500 jobs for UAE citizens in the private sector.
INITIATIVES TO ADDRESS SDGs
As ADNOC is expanding its business practices to ensure that we can deliver more energy with fewer emissions for many years to come. We are mainly focused on the contribution to the economy, the environment, and most important, our people, and for that, ADNOC is sustainable planning for being approached in a thorough and holistic manner.
“As considering in mind a firm focus on the safety of our people and the reliability of our resources, we are essentially reinforcing our role as the primary motivator of the UAE’s socio-economic development through our In-Country Value goal. ADNOC will identically continue to make sizeable investments in new and innovative technologies to improve environmental performance, we will continue to work in partnership with key stakeholders to prioritize sustainability as corresponded as we have been doing from 50 years of responsible production.”
ADNOC is expanding on the success of the region's first commercial-scale carbon capture, utilization, and storage (CCUS) facility in the area to enable its target to lower its GHG intensity by 25%.
By capturing CO2 from its own gas plants, ADNOC plans to increase the capacity of this program six-fold, with the goal of reaching 5 million tonnes of CO2 annually by 2030-This is equal to the annual carbon capture capacity of more than 5 million acres of forest, or more than twice the size of the UAE. At the moment, the Al Reyadah facility can annually capture 800,000 tonnes of CO2.
The communities where the ADNOC work has proactively fragile ecosystem in their area of operation, additionally, ADNOC actively protects biodiversity, marine development, and the ecosystem. In order to protect the biodiversity of the UAE coastline, ADNOC has so far planted over 250,000 mangrove saplings in the emirate of Abu Dhabi. To protect marine life and maintain ocean health, ADNOC has also constructed 293 artificial coral reefs.
In order for the oil and gas industry to modernize and continue to be a crucial component of the future diversified energy mix, environmental protection is one of the primary tenets of ADNOC's "Oil and Gas 4.0" goal. To monitor and reduce the impact of its activities on the environment, the corporation prioritizes investments in state-of-the-art technology.
A system is built into ADNOC's Panorama Digital Command Center which gives customised health, safety, and environmental (HSE) information that gathers data from millions of data sensors to provide rapid, real-time readings across various environmental key performance indicators (KPIs).
In order to build a complete picture of its fugitive emissions, ADNOC, a global leader in the use of optical imagery to monitor environmental threats, deployment of infrared cameras across its operations. Additionally, the business was an innovator in the use of imaging-equipped drones to inspect flare stacks.
For ensuring efficient management of wastes produced by the oil and gas industries, ADNOC also set up a cutting-edge Centralized Hazardous Waste and Naturally Occurring Radioactive Material (NORM) treatment and disposal plant.
EVIDENCE
Ghasha Mega-Project
The Ghasha mega project is one of the world's largest offshore sour gas developments. In accordance with ADNOC's integrated gas strategy, the multibillion-dollar project will be crucial to achieving the UAE's goal of gas self-sufficiency. The integrated gas strategy aims, which was approved by the Supreme Petroleum Council (SPC), intends to maximize the value of Abu Dhabi's significant natural gas reserves.
Waste Heat Recovery-Project
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At our General Utilities Plant in Ruwais, these US$ 600 million (AED 2.2 BN) projects will change the production of power and water. We will create an additional 230 megawatts of power and 62,400 cubic meters of distillate water per day by using heat produced on the site to drive two new steam-powered turbines.
The innovation will reduce dependence on the national grid and increase the thermal efficiency of the site by nearly 30%. The entire Ruwais industrial complex receives water and power from the General Utilities Plant. A part of ADNOC's 2030 smart growth strategy depends on the continued development of Ruwais.
Unconventional Gas-Project
As part of its integrated gas strategy, ADNOC is currently releasing possible unconventional gas resources in an effort to make the UAE gas-independent by 2030. The discovery of 160 trillion standard cubic feet (SCF) of recoverable unconventional gas resources was announced by the Supreme Petroleum Council (SPC) in November 2019 (www.ETEnergyworld.com, n.d). This find has the ability to supply the UAE with gas far into the future.
Already, 50% of the UAE's natural gas requirements are satisfied in part by ADNOC. By including unconventional gas in the UAE's gas portfolio, an additional 1 billion cubic feet per day (bcfd) of gas will be released from the Ruwais Diyab concession before 2030. This could help ADNOC achieve its goal of turning into a net exporter of gas while supplying energy to the country for a long time.
EXPERIENCE AND FUTURE PLANS
Due to improved market conditions, Abu Dhabi National Oil Company (ADNOC) is expected to move through with plans to scale up its oil production capacity to 5 million bpd by 2025, beating its previous 2030 target.
In order to satisfy growing customer demand, reduce overall station traffic, and offer the best quality of service to clients across the country, ADNOC plans to open more ADNOC Xpress facilities around the UAE.
In order to increase its hydrocarbon reserves, ADNOC has announced their plans to spend $127bn over the following five years, from 2022 to 2026.
PERSONAL ANALYSIS
The company has some values which it maintains all the time. Let’s have a look at its values:
Any organization is required to increase its sales as well as ensure a better internal control system in order to enhance its project works. It has been suggested that ADNOC must be focused on minimizing its inventory tables from 120 days to 25 days which will assist in minimizing its inventory holding and ordering cost.
Apart from this company should increase its cash and receivables which is a short-term period used for any organisation. And, it has been also found that the companies suffered from declining business revenue due to increased competition in the market as well as failure to control their manufacturing cost. It is suggested that ADNOC must implement an effective digital marketing strategy in business which may essay to mitigate current issues to enhance business revenue.
REFLECTION
ADNOC has a platform for predictive maintenance which uses artificial intelligence (AI) technologies including machine learning and digital twins to continuously check whether any machine is functioning properly or not stopping, to reduce the frequent maintenance and downtime which comes unplanned, to speed-up everyone’s safety and liability, and can save the charge which wastes in the maintenance of up to 20%.
In light of the unheard-of market conditions, ADNOC has applied a strategy to take the most and almost everything out of each barrel of oil, and helping UAE in getting the highest returns possible continues to center on the successful application of creative technologies.
References
www.ambitionbox.com. (2022).?ADNOC Employee Benefits. AmbitionBox; AmbitionBox. https://www.ambitionbox.com/benefits/adnoc-benefits
?Who We Are. (n.d.). Www.adnoc.ae. https://www.adnoc.ae/en/our-story/who-we-are
?ADNOC Distribution. (n.d.). ADNOC Distribution. https://www.adnocdistribution.ae/
?www.ETEnergyworld.com. (n.d.).?Adnoc News - Latest adnoc News, Information & Updates - Energy?
News -ET EnergyWorld. ETEnergyworld.com. Retrieved December 5, 2022, from https://energy.economictimes.indiatimes.com/tag/adnoc
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