Abu Dhabi National Oil Company
Abu Dhabi National Oil Company (ADNOC) is a government own company based in Abu Dhabi. It was established in 1973. It has access to over 90% of that country's oil and gas reserves, considered to be the world's fourth largest (137 billion Barrels of oil as of June 2007). ADNOC is one of the world’s leading companies with major oil reserves and in recent years, exploration activities have continued using state-of-the art seismic analysis in order to increase the proven reserves. Oil production capacity has been expanded, and recovery rates from existing oil reservoirs have been improved. Currently the company operates two oil refineries which are Ruwais and Umm Al Nar. ADNOC have eleven subsidiary company under it, each handling every aspect of process in the petroleum industry both upstream and downstream.
The United Arab Emirates is one of the world’s leading owners of gas reserves, which ADNOC is developing both onshore and offshore for export as LNG and for supply to local electricity and water utilities, to other industries including petrochemical plants and for re-injection into reservoirs to improve oil and condensate production. Eight new LNG tankers have been purchased to transport LNG exports.