Announcements
ADNOC announces three new oil discoveries
Abu Dhabi, May 19, 2022 (WAM) – Abu Dhabi National Oil Company (Adnoc) on Thursday announced three oil discoveries that will add more than 650 million barrels of oil to the country’s hydrocarbon reserves.In a statement, the Abu Dhabi-based group said the 500 million barrels of oil were discovered at Bu Hasa, Abu Dhabi’s biggest onshore field, with a crude oil production capacity of 650,000 barrels per day (bpd). The second oil find was in Abu Dhabi’s Onshore Block 3, operated by Occidental, with around 100 million barrels of oil in place.“In the third discovery, around 50 million barrels of light and sweet Murban-quality crude were found in Al Dhafra Petroleum Concession,” according to the Adnoc statement.
Adnoc produces almost all of the UAE’s oil and is spending billions of dollars on multiple development projects as it aims to expand its crude output capacity to five million barrels per day (bpd) by 2030, up from the existing four million bpd.
Energy analysts and market experts said these additional reserves will be ‘a sizeable boost’ to the UAE’s hydrocarbon reserves base standing well above 111 billion barrels of oil and 289 trillion standard cf of natural gas.
Earlier this year, Adnoc had announced a sizeable gas discovery in the Offshore Block 2 exploration concession operated by Italy’s Eni. Adnoc had said that the interim results from the block’s first exploration well indicated between 1.5 trillion and 2 trillion cubic feet of raw gas in place in multiple good quality reservoirs of the Jurassic exploration targets.
In December last, there was confirmation of a discovery of up to one billion barrels of oil equivalent (BBOE) at Onshore Block 4 Exploration Concession, which is operated by the Japanese combine INPEX/JODCO (Japan Oil Development Company). The oil discoveries were disclosed at the Adnoc board of directors meeting chaired by Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, member of the Abu Dhabi Executive Council and Chairman of the Abu Dhabi Executive Office.
During the meeting, held at Adnoc headquarters in Abu Dhabi, Sheikh Khaled reviewed Adnoc’s performance and strategic targets and commended the company’s expanded approach to strategic partnerships, which have helped lead to new discoveries of oil, including a new find at Bu Hasa, Abu Dhabi’s biggest onshore field with a crude oil production capacity of 650,000 barrels per day (mbpd).
“The 500 million barrels of oil discovered from an exploration well in the Bu Hasa field has unlocked a new formation within the field, offering substantial additional premium-grade Murban oil resources. Bu Hasa is part of the Adnoc Onshore Concession and is operated by Adnoc Onshore,” according to the statement issued by Adnoc.
In Abu Dhabi’s Onshore Block 3, operated by Occidental, around 100 million barrels of oil in place were discovered, marking the second oil find in this concession. Occidental was awarded the exploration rights for Onshore Block 3 in early 2019.
“Around 50 million barrels of light and sweet Murban-quality crude was also discovered in the Al Dhafra Petroleum Concession, operated by Al Dhafra Petroleum, a joint venture between Adnoc, the Korea National Oil Company (KNOC) and GS Energy,” the statement said.
Announcements
Dubai ad agency turns billboard into a self-funded tribute of gratitude and love for the UAE
As global markets navigate a landscape of uncertainty, the UAE continues to stand as a beacon of stability and resilience. While business leaders across the region have applauded the nation’s defence mechanisms and leadership, one Dubai-based advertising firm is moving beyond words and into action.
NextWhat Advertising has unveiled a massive, self-funded tribute billboard at the Dubai World Trade Centre Roundabout. In a move that breaks industry norms, the agency has bypassed commercial revenue to dedicate one of the city’s most premium outdoor spots to a message of solidarity and love for the UAE leadership.
The billboard, strategically located in the parking area facing the flow of traffic from Emirates Towers toward Zabeel Road and facing the iconic Sheikh Zayed Road, carries a heartfelt message honouring the strength, wisdom, and commitment to unity that defines the UAE’s path forward.
Gratitude for leadership
While Corporate Social Responsibility (CSR) campaigns are common, they are almost exclusively funded by clients. NextWhat is pioneering a different path: the billboard owner acting as the benefactor.
“Typically, we see clients using CSR funds for these types of messages. Among outdoor media players, we are amongst the first few to have done this entirely on our own,” says Tanvir Shah, Founder and Managing Director of NextWhat Advertising.
“We’ve spent our own money and used our own premium space, no sponsorship, no clients, to show our genuine gratitude for the safety and leadership the UAE provides.”
From Mumbai to the world stage
The man behind the move, Tanvir Shah, is a first-generation entrepreneur with a legacy of Thinking Big. A graduate of Mumbai’s prestigious Sydenham College and a veteran of The Times of India, Shah launched his first venture in 1992. Today, his footprint spans India, Sri Lanka, and the UAE.
Under Shah’s leadership, NextWhat has become synonymous with unmissable brand experiences. By dedicating their state-of-the-art digital and large-format sites to a national cause, the company is demonstrating that in the UAE, the bond between the private sector and the state is built on more than just commerce; it is built on shared resilience.
United we stand as a family
Today, as business leaders and residents alike confront uncertainty, they do so not as guests in a foreign land, but as a united family standing in defence of the home that has embraced them. This bond has been forged through years of shared milestones and a collective belief that, regardless of origin, hearts can beat as one for the Emirates.
“The UAE has given us extraordinary opportunities and unwavering support. Just as it welcomed us during times of prosperity, we stand with it now in moments of challenge. We are not merely expatriates or guests; we are family. Irrespective of nationality, we have consciously chosen this country as our home, and we hold it close to our hearts. Our loyalty has only grown stronger through the trust and confidence shown by the nation’s leadership. This land has embraced us with dignity, and the least we can do is stand by it. At the end of the day, we are one,” concluded Shah.
Click on the link to see a video of the ad: https://www.instagram.com/reels/DWqPp7EjKCU
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