Skip to content Skip to Search
Skip navigation

Japan’s oil firm Adoc to ramp up investment in UAE

Adoc Japan Takahiko Shingai Wam
The company is planning to increase extraction rates, said Takahiko Shingai, deputy general manager at Adoc

Abu Dhabi Oil Company (Adoc), a company from Japan, plans to increase investments in the UAE’s oil sector as part of its expansion strategy, a senior company executive said.

“We are planning to expand our production facilities and increase extraction rates,” Takahiko Shingai, deputy general manager and director of the development department at Adoc, told the UAE state-run Wam news agency at Adipec 2023.

Details of the expansion were not given.

The UAE is one of Japan’s most important oil suppliers, Shingai said.

On February 2, 2011, Japan’s Adoc signed a new concession agreement to continue production of oil from three oil fields after the expiry of the former concession agreement on December 6, 2012, for a period of 30 years. The company will also undertake the development of some structures of the Hail Field, Abu Dhabi.

Adoc has been operating in the UAE for the past 50 years.

During a trip to the region in July, Japan’s prime minister, Fumio Kishida, met GCC secretary general Jasem Mohamed Al Budaiwi and agreed to resume negotiations on a free trade agreement.

Japan aims to strengthen relations with oil producers in the Middle East to ensure a stable energy supply. It relies on the GCC states – Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates – for over 90 percent of its crude oil.

The UAE has the largest number of Japanese expatriates in the Middle East at 4,500 and hosts about 340 Japanese companies. 

Latest articles

The Saudi government is trying to raise home ownership among nationals to 70 percent of the population by 2030, which is helping to drive up residential property prices

Residential price rise counters slip in Saudi commercial property

Residential property was the driving force behind a rise in Saudi Arabian real estate prices in the first quarter of 2024 as prices of commercial real estate fell, government statistics released this week showed.  The overall real estate price index rose by 0.6 percent compared with the same quarter in 2023. But while there was […]

Residents in Muscat. Oman's government is taking steps to increase the size of its debt market

Sukuk takes bigger slice of Oman’s shrinking debt market

Oman’s total debt capital market contracted by 7 percent to $44 billion last year as the government took advantage of its budget surplus from higher oil and gas prices to make early payments. The energy boon helped its budget surplus total $2.4 billion. Despite the shrinking debt market Fitch Ratings said sukuk issuance in Oman […]

Marcel Ciolacu, Romania's PM, speaks to reporters in Rome. He is now in Qatar for trade talks

Romania touts $16bn of opportunities as PM visits Qatar

Romania is looking to secure €15 billion ($16 billion) of investment from Qatar during a visit by its prime minister, Marcel Ciolacu. He is set to hold talks with Qatar’s prime minister and minister of foreign affairs, Mohammed bin Abdulrahman bin Jassim Al Thani. Ciolacu is also due to have discussions with representatives of Qatar […]

The under-construction Zayed National Museum in Abu Dhabi

UAE wealth fund ADQ buys stake in Abu Dhabi builder

UAE sovereign wealth fund ADQ is acquiring a stake in the construction company building the Guggenheim and Zayed National museums in Abu Dhabi. Alpha Dhabi Holding (ADH), an investment holding company, announced in a filing to the Abu Dhabi Stock Exchange on Tuesday that it will divest 49 percent of its subsidiary Alpha Dhabi Construction […]