ADNOC announced it will award up to $55 billion in new projects over 2026–2028, accelerating growth after the UAE left OPEC on May 1.
The UAE had long sought to boost crude output to 5 million barrels per day by 2027, a target that had been constrained by OPEC quotas. The exit frees the country from those limits, but short-term output remains capped by the closed Strait of Hormuz.
The $55 billion investment is part of a $150 billion capex plan approved in November 2025 for 2026–2030. The projects cover upstream and downstream work and will be awarded between 2026 and 2028. The plan aims to raise UAE crude output to 5 million barrels per day by 2027. The $55 billion equals 200 billion UAE dirhams.
Sultan Al Jaber, ADNOC Group chief executive, said local manufacturing is a key pillar for procurement, construction and execution, and that ADNOC is entering a defining execution phase driven by scale, pace and a laser-focus on delivery. Analysts at Wood Mackenzie noted that the UAE has a larger share of unused productive capacity than other members and that its lower fiscal oil price breakevens make its economy more resilient to low prices.
With the capex plan now accelerated, ADNOC is poised to deliver world-scale projects that will strengthen the UAE's industrial base and position the country to tap its spare capacity once the Strait of Hormuz reopens. The company's focus on UAE products and manufacturers underpins a broader strategy to support domestic manufacturing and sustain long-term growth.
