2023-10-02 17:34:17
Monday, October 2, 2023 – 9:32 PM
ABU DHABI, 2nd October, 2018 (WAM) – Takahiko Shingai, Deputy General Manager and Director of the Development Department at Abu Dhabi Oil Company Limited – Japan (ADOC), said that his company aims for further expansion and investment in the United Arab Emirates.
In statements to the Emirates News Agency, WAM, on the sidelines of the Abu Dhabi International Petroleum Exhibition and Conference, ADIPEC 2023, Shingai added: “We plan to expand our production facilities and increase extraction rates, especially after achieving many achievements and implementing many successful operations in the Emirates over the past fifty years.”
Shinjay explained that the UAE is considered one of the most important countries for Japan, which imports a large portion of its oil needs from the country.
He pointed out that ADOC contributes significantly to strengthening the close relations between the UAE and Japan through its projects, investments and its long history in the oil sector in the country for more than 50 years. He stated that ADOC is currently working in the stage of developing its assets in the UAE and contributing more strongly to State economy.
It is noteworthy that ADOC was the first Japanese company to enter the Emirate of Abu Dhabi on January 17, 1968. On February 2, 2011, the company obtained a new concession agreement that includes the ADOC fields, which are Mubarraz, Umm Al Anbar and Niwat Al Ghalan oil fields, in addition to the new Hail oil field, which is located near Mubarraz Island. The duration of the new concession is 30 years, starting from December 6, 2012.
Assem Al-Khouly/Rami Samih
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