May 04, 2026 [World Oil]- Abu Dhabi National Oil Company (ADNOC) has outlined plans to award up to $55 billion in projects between 2026 and 2028, signaling an acceleration of upstream and broader energy investment as the UAE charts its path following its exit from OPEC.

The planned awards form part of ADNOC’s existing five-year capital expenditure program and mark what the company described as a new phase of large-scale project execution aimed at meeting rising global energy demand.

The investment will span ADNOC’s upstream and downstream portfolio, with a significant portion expected to support capacity expansion and development activity across the company’s oil and gas assets.

The announcement comes days after the UAE formally exited OPEC, a move that frees the country to pursue production growth without quota constraints. ADNOC has previously outlined ambitions to expand capacity, positioning the UAE among the few producers with meaningful spare capacity.

“In line with the directives of the UAE leadership… ADNOC is entering a defining execution phase in its strategy, driven by scale, pace and a laser-focus on delivery,” said CEO Dr. Sultan Ahmed Al Jaber. He added the company is focused on “meeting rising global energy demand while strengthening and expanding the UAE’s industrial and manufacturing base.”

The company also emphasized closer collaboration with engineering, procurement and construction contractors and local manufacturers as part of its project delivery model, aimed at accelerating timelines and strengthening supply chain resilience.

The scale of the planned awards underscores ADNOC’s intent to move quickly on project execution, as global markets remain tight and producers with spare capacity look to capture additional demand.