ABU DHABI- The Abu Dhabi National Oil Company (ADNOC) announced it will award AED200 billion (about $55 billion) in new project contracts between 2026 and 2028, marking the first major tranche of its five-year, $150 billion capital expenditure (capex) plan approved by its Board of Directors in late 2025.
The announcement was unveiled at the 'Make it With ADNOC' Forum in Abu Dhabi and confirmed by the Abu Dhabi Government Media Office, which said the awards span upstream and downstream operations and are designed to accelerate delivery of ADNOC's growth strategy across the energy value chain [1].
Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC's Managing Director and Group CEO, said the company is entering 'a defining execution phase in its strategy, driven by scale, pace and a laser focus on delivery.' He framed the spending as a way to meet rising global energy demand while reinforcing the UAE's industrial base [2].
Supporting the local economy
A central pillar of the plan is the deepening of domestic supply chains. ADNOC has pledged to channel roughly $60 billion into the UAE economy over the next five years through its In-Country Value (ICV) programme, which directs procurement spending toward qualified UAE-based suppliers and manufacturers [3].
Underpinning that pledge is the 'Local+' initiative, which connects top engineering, procurement and construction (EPC) contractors with more than 70 qualified UAE manufacturers. Under Local+, EPC contractors awarded ADNOC work must procure directly from these local suppliers and prioritise 'Made in the Emirates' products across all projects [2].
ADNOC also confirmed it will run 'ADNOC Value Connect - meet the buyer' on 5 and 6 May at the Make it in the Emirates exhibition, bringing more than 1,000 companies - including SMEs - together with key suppliers and EPC contractors to broker direct partnerships [1].
Context: post-OPEC strategy
The project wave follows the UAE's exit from OPEC on 1 May 2026 and lands as ADNOC pushes ahead with capacity expansion in oil, gas, chemicals and lower-carbon energy. Khaleej Times reported that the AED200 billion pipeline represents the first execution phase of the wider $150 billion capex plan, with awards scheduled across 2026, 2027 and 2028 [3].
ADNOC said the project awards will support job creation, technology transfer and the localisation of advanced manufacturing capabilities inside the UAE, in line with the country's industrial diversification agenda.
Sources
- Abu Dhabi Government Media Office - 'ADNOC announces AED200bn in new project awards for 2026-2028': mediaoffice.abudhabi
- The National - 'Adnoc bets $55bn on local supply chains to support $150bn capex plan' (3 May 2026): thenationalnews.com
- Khaleej Times - 'Adnoc unveils $55 billion expansion plan between 2026 and 2028': khaleejtimes.com
