Abu Dhabi National Oil Company reached agreements with multiple American energy companies, potentially locking in $60 billion in investments.

On May 16, the Abu Dhabi National Oil Company announced agreements with multiple American energy companies, with the potential for $60 billion in US investments throughout the lifecycle of various energy projects in the UAE. The statement mentioned agreements on oil field development plans with ExxonMobil and INPEX/JODCO, aimed at expanding production capacity in the Upper Zakum offshore oil field in Abu Dhabi through phased development. ADNOC also signed a cooperation agreement with Western oil companies to explore increasing natural gas production from the Shah gas field and accelerate the deployment of advanced technologies in that field.