ADNOC: $11 Trillion Needed to Meet Future Global Energy Demand
September 10, 2019, 7:26 am

ADNOC: $11 Trillion Needed to Meet Future Global Energy Demand

Dr. Sultan Ahmed Al Jaber, Minister of State and Group CEO of the Abu Dhabi National Oil Company, ADNOC, said Monday that the long-term outlook for global energy demand was “robust” and about US$11 trillion of investment in oil and gas are needed to keep up with current projected demand.

In a world that needs more energy with fewer emissions, ADNOC will continue to prioritize responsible production as it expands its operations, he said.

He also said that the state oil company was on track to raise its oil production capacity to 4 million barrels per day by 2020 and 5 million bpd by 2030.

“In parallel, by tapping into gas caps, undeveloped reservoirs and unconventional resources, we are unlocking vast reserves of natural gas," Al Jaber told an energy conference in Abu Dhabi.

Meeting the world’s energy needs - responsibly and economically - will require a renewed spirit of partnership, he said.

He noted that this includes partnerships with new sets of investors, who value long-term sustainable returns; partnerships between energy companies where best practices are shared, technology is leveraged, and capital efficiency is maximized; as well as partnerships between consuming and producing nations that recognize the shift in demand from West to East.

"Given our location, the UAE is perfectly positioned to cater for the new frontiers of market growth. We stand ready to forge strategic, value-add, commercial partnerships with governments, industry leaders, and innovators across the entire energy sector,” Al Jaber added.

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”