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UAE and US Deepen Energy Cooperation with $60 Billion Projects and Landmark Agreements
The United States and the United Arab Emirates are strengthening their long-standing energy alliance, with US energy corporations planning to invest $60 billion in UAE oil and gas projects over the project’s duration. The announcement was made during the UAE-US business discussion in the presence of former US President Donald Trump. In a reciprocal gesture, UAE energy investments in the United States are expected to exceed $440 billion by 2035, matching Abu Dhabi’s greater $1.4 trillion investment in the American energy sector.
Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and CEO of ADNOC, emphasised the two countries’ common aim of energy security and sustainable development. ADNOC has signed a field development deal with ExxonMobil and Inpex to increase Upper Zakum’s offshore capacity through low-carbon intensity methods. ADNOC Drilling will send three rigs to help with the development.
Furthermore, ADNOC and Occidental will collaborate to increase Shah gas field output and adopt innovative technology. The United States is a priority market for ADNOC’s XRG, which plans significant investments in American LNG and energy infrastructure.
