Integrating Sustainable Development In ADNOC Group In The UAE - Term Paper Example

Abu Dhabi National Oil Company (ADNOC) has been carrying out various activities that can include production, exploration, and exportation of natural gas and crude oil. It is among the ten top companies in the oil industry. It is a state-owned corporation that was established in 1971 operating in all oil and gas industry areas. Since the time it was established, it widened its activities to establish companies and subsidiaries creating integrated oil and gas in exploration and production. It has been committed to providing support services that can include oil refinery and gas processing, petrochemical, and chemical distribution (Akubue, 34).

The supreme petroleum council is responsible for formulating and implementing of the Abu petroleum policies. ADNOC has experienced an expansion in its business activities in the past four decades thus enhancing its competitive position and able to become one of the leading oil companies in the world with the highest business interests in upstream and downstream which include shipping, marketing, transportation, and distribution. ADNOC’s has an effort to improve reservoir management in production and exploration field by concentrating on the assessment of the undiscovered reserves and hydrocarbon recovery optimization.

Achievements were made over the past few years in the gas industry concerning the development and expansion to meet the increased demand from gas users in the industry and the injection requirements. ADNOC sustainability performance initiatives have been launched by the company in the year 2009 to ensure harmony between societal needs and the Earth’s resources, while standards for rest of the Arabian Gulf are set to be followed. The company has been giving education the top priority where it has established various institutions to offer training in the energy sector.

For instance, ADNOC has established educational projects that can include Glenelg School of Abu Dhabi, The petroleum institute, the ADNOC Technical Institute, Achievers’ Oasis and other scholarship projects to offer training that can boost the expertise in the industry (Felicity, 230). Abu Dhabi is considered to be among the largest states that form part of the United Arab Emirates, which is said to be the heart of oil industry in UAE. ADNOC has been contributing a lot to the production of oil in where it accounts for around 90% of the oil reserves of UAE translating to around 100 billion of barrels (Akubue, 36).

The company has been operating two refineries, oil production firms, marine transport companies and petrochemical firms. Besides, ADNOC provides electrical and gas power to be consumed locally where some of its subsidiaries have been distributing fuel and gas in various regions in UAE.