Overview
- ADNOC, which announced the move Sunday at its Make it With ADNOC forum, set AED 200 billion ($55 billion) in project awards for 2026–2028.
- The contracts span upstream production and downstream refining and chemicals, forming the first big slice of a $150 billion five-year plan approved in November 2025.
- The push follows the UAE’s May 1 exit from OPEC, a break officials say gives room to lift output toward a reported 5 million barrels a day capacity target by 2027.
- Procurement centers on UAE manufacturers through ADNOC’s Local+ list, with a Value Connect meet-the-buyer event on May 5–6 linking more than 1,000 companies with EPC contractors.
- The focus on local supply chains comes after Iranian strikes damaged sites such as Habshan and shipping constraints near the Strait of Hormuz curbed exports, raising the premium on fast, resilient execution.