Skip to content Skip to Search
Skip navigation

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

By Pramod Kumar
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

STC wants to consolidate the mobile tower market

STC approves PIF purchase of telecom company

Shareholders of Saudi telecom giant STC have approved plans to create a new telecommunications infrastructure company in which the Public Investment Fund will have a 51 percent stake valued at SAR8.7 billion ($2.3 billion).  Under the deal, the STC-owned Telecommunication Towers Co. Limited (Tawal) will become a PIF subsidiary through a merger with Golden Lattice […]

Flavio Cattaneo of Enel, of which Endesa is a subsidiary, and Mohamed Jameel Al Ramahi at the signing of the deal

Masdar buys stake in Spanish utilities company Endesa

The UAE’s state-owned clean energy company Masdar has agreed to acquire a minority stake in Spanish electric utility business Endesa to partner for 2.5 gigawatts (GW) of renewable energy assets in Spain. Under the agreement, subject to regulatory approval, Masdar will invest nearly $890 million to acquire a 49.99 percent stake in Endesa, with an […]

UAE markets Hong Kong

UAE capital markets partner with Hong Kong exchange

The Hong Kong Stock Exchange (HKSE) has added the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM) to its roster of recognised marketplaces. The move opens the door for UAE-based companies to pursue secondary listings on one of Asia’s premier financial markets. It also follows the inclusion of the Saudi Exchange (Tadawul) […]

Person, Worker, Adult

Aramco and PIF invest in Saudi-Chinese steel venture

Saudi Aramco and the Public Investment Fund have doubled their investment in a steel plate joint venture with a Chinese company to $500 million. The two Saudi companies each own 25 percent shares in the new venture in Ras Al Khair industrial city, Bloomberg reported, quoting a statement published on the Chinese stock exchange. Chinese […]