ADNOC Drilling Ready to Boost UAE Oil Capacity Beyond 5 Million Bpd Target

ADNOC Drilling's chief financial officer, Youssef Salem, said the company is ready to meet increased oil production demand if required. The UAE has a target of reaching 5 million barrels per day (bpd) by 2027, but could boost its output capacity to 6 million bpd if necessary.

The company has outpaced its accelerated capacity goals, reaching 142 deployed rigs by 2025, well ahead of the previous target of 127 rigs by 2030. ADNOC Drilling's operations have not been affected by recent disruptions in shipping and tensions in the Gulf, with a rig availability of 98% in Q1.

The company is advancing its unconventional oil and gas projects, including a project with TotalEnergies that could receive a final investment decision this year. ADNOC Upstream CEO Musabbeh al-Kaabi said the company expects to make progress on these milestones soon.