January 30, 2023

Dubai Week

Complete Dubai News World

A new dawn and a bright future |  Mohammed Khalifa

A new dawn and a bright future | Mohammed Khalifa

The growth of the economic development movement stems from the ability to keep pace with human development in this marvelous country march and the growing awareness of belonging.
After expanding the reality of the oil issues that still play a strategic role in the world economy, the ambition to deal with all situations when making decisions increases, although it remains the key engine for development in various countries. The broader international desire to move towards a green economy has turned away from oil to protect the environment and climate, but the world has not found a ready-made alternative to running oil on machinery and industry, and more importantly, oil resources have made it a strategic commodity that can never be distributed.
God has bestowed many blessings on the good land of the Emirates, the first of which is oil, which has been successfully invested by brilliant leadership to achieve comprehensive growth and strengthen the UAE’s position as an economic and political power in the region. And the world. Abu Dhabi National Oil Company (ADNOC) is considered one of the most important companies operating in the oil sector inside and outside the United Arab Emirates. It plays an important and vital role in the national economy with its effective influence on global energy. In the industry, it is the 12th largest oil company in the world.
Thanks to the vision and guidance of Sheikh Mohammed bin Saeed Al Nahyan, President of the United Arab Emirates, may God protect him, ADNOC has achieved strong operational and financial performance and exceptional achievements. Transform the UAE into a developed economy. The future.
(ADNOC) recently announced three new oil discoveries, one in Pu Hasa, Abu Dhabi, capable of producing 650,000 barrels of crude a day. The company said the find in Buhasa contained 500 million barrels of oil from a well in the field. ADNOC’s second oil discovery was driven by Occidental in Coastal Block 3, Abu Dhabi, where about 100 million barrels of oil were discovered. In the third discovery, ADNOC added that about 50 million barrels of mild marbane crude oil were found in the Al Tafra oil concession area. The Chairman of the Board of Directors and the Abu Dhabi Board of Directors commended ADNOC’s management as based on the company’s approach aimed at strengthening the UAE’s position as a trusted global provider and strengthening cooperation with its partners. This came after a meeting of the Board of Directors of the Abu Dhabi National Oil Corporation (ADNOC) on May 19, 2022.
There is no doubt that this new discovery will help boost the UAE’s oil reserves to 111 billion barrels and over 289 trillion standard cubic feet, as announced by ADNOC’s board of directors last year. The United Arab Emirates has strengthened its position to sixth in the world, ranking seventh in the world in terms of oil reserves and seventh in terms of natural gas reserves. In a world where resources are scarce, this wealth is an asset to the strength of the United Arab Emirates and its continued growth.
We ask the Lord to protect this country and its security and stability under wise and rational leadership.
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