ADNOC is preparing to award AED 200 billion ($55 billion) in new projects between 2026 and 2028, accelerating execution across its upstream and downstream operations just days after the UAE formally exited OPEC and OPEC+. The company said the awards form part of its five-year capital expenditure plan and are intended to support rising global energy demand while expanding the UAE’s industrial and manufacturing base.
The UAE announced its decision to leave OPEC and OPEC+ effective May 1, 2026, saying the move followed a review of its production policy, current and future capacity, and national economic priorities.
The country joined OPEC through Abu Dhabi in 1967 and remained a member after the UAE’s formation in 1971, making the departure a major shift after nearly six decades of participation in coordinated oil supply policy.
For ADNOC, the latest announcement signals a sharper execution phase rather than a new strategic direction. The company has already been working toward expanding crude production capacity to 5 million barrels per day, while also investing in gas, chemicals, low-carbon energy, and downstream capacity. Industry reports note that the $55 billion project pipeline sits within a broader $150 billion capital expenditure programme through 2030.
A key feature of the plan is its local industrial component. ADNOC said the awards will support its In-Country Value (ICV) programme and the UAE’s “Make it in the Emirates” initiative, with the company bringing together major engineering, procurement and construction contractors and 70 UAE manufacturers to increase local sourcing across project delivery. ADNOC also plans to launch “ADNOC Value Connect, Meet the Buyer,” linking more than 1,000 companies with suppliers and contractors.
The market context remains fluid as the UAE has positioned its OPEC exit as a move to increase flexibility in responding to global energy demand, while officials have said the decision is not directed against any producer group. Reuters reported that UAE officials emphasized continued cooperation with other oil-producing nations, even as the country seeks greater freedom from production constraints.
For investors, the immediate read-through is not only oil production. The project awards could have implications for UAE industrials, construction, logistics, manufacturing, and energy services firms tied to ADNOC’s supply chain. The announcement also reinforces the broader shift in UAE energy policy: maintaining its role as a major hydrocarbon supplier while using energy investment to deepen domestic industrial capacity.
