ADNOC Secures $60 Billion in US Investment Pledges to Boost UAE Energy Projects

ADNOC

Strategic pacts with ExxonMobil, Occidental, and others advance gas, offshore oil, and carbon capture initiatives

The Abu Dhabi National Oil Company (ADNOC) has signed multiple landmark agreements with US energy giants that could draw $60 billion in American investments into the UAE’s energy sector, the company announced during a high-level UAE–US business dialogue attended by former President Donald Trump.

The centerpiece is a phased development plan for the Upper Zakum offshore oilfield, one of the world’s largest, led by ADNOC in partnership with ExxonMobil and INPEX/JODCO. The initiative aims to significantly expand production capacity by integrating AI technologies, clean grid power, and artificial island-based drilling, minimizing environmental impact while meeting global oil demand with low-carbon intensity barrels.

In another major move, ADNOC and Occidental are set to expand the Shah Gas Field, increasing its output from 1.45 to 1.85 billion standard cubic feet per day. The project will accelerate adoption of advanced technologies to support the UAE’s growing gas supply needs and bolster LNG exports.

ADNOC’s international investment arm, XRG, has also signed a framework agreement with 1PointFive, an Occidental subsidiary, to explore investing in a direct air capture (DAC) facility in Kleberg County, Texas, capable of removing 500,000 tons of CO₂ annually. XRG may contribute up to one-third of the project's capital.

In addition, the Supreme Council for Financial and Economic Affairs in Abu Dhabi has granted an unconventional oil exploration concession in the Al Dhafra region to EOG Resources, a prominent US-based exploration firm. ADNOC will support and potentially participate in production operations following exploration.

The agreements underscore a deepening US–UAE energy partnership focused on energy security, decarbonization, and market stability. UAE investments in the US energy sector are projected to reach $440 billion by 2035, part of a broader $1.4 trillion global investment plan.

This announcement comes shortly after Saudi Aramco signed 34 MoUs with major US firms, potentially worth $90 billion, signaling intense regional competition for clean energy and industrial collaboration with American partners.