MOSCOW (MRC) -- The Abu Dhabi National Oil Company (ADNOC) announced, today, it plans to introduce measures that will increase energy efficiency by 10% by 2020, sid Hydrocarbonprocessing.
The energy efficiency strategy will reduce ADNOC’s gas consumption by 156 MMcf/d, saving a total of USD1 billion by 2020.
The initiatives have already cut CO2 emissions by 3.1 MMt, the equivalent of 658,800 car journeys a year, compared with 2014 levels. Further cuts in emissions will occur over the next three years as additional operational efficiencies are introduced.
ADNOC’s energy efficiency plans were announced on the second day of the World Future Energy Summit (WFES), being held as part of the Abu Dhabi Sustainability Week (ADSW) Exhibition and Conference, at the Abu Dhabi National Exhibition Centre (ADNEC).
As part of the initiative, ADNOC will optimize energy use, consumption and performance, across a range of industry related activities, and upgrade systems to measure and report data for better energy planning across the organization.
"ADNOC’s commitment to energy efficiency has already brought significant tangible results," said Omar Al Suwaidi, Director of Gas Management at ADNOC Group. "These efficiencies are going to drive further cost savings and enable us to create maximum value from our gas resources. This will not only improve profitability, it will also enable ADNOC to achieve its strategic goal of meeting Abu Dhabi’s rising energy demand from domestic gas supplies."
As MRC informed earlier, ADNOC shut half the capacity at its 800,000 barrels-per-day Ruwais refinery after a fire in mid January 2017.
The Abu Dhabi National Oil Company or ADNOC is the state-owned oil company of the United Arab Emirates (UAE). According to the Oil & Gas Journal, as of January 2015, the UAE holds the seventh-largest proven reserves of oil in the world at 97.8 billion barrels. Most of these reserves are located in Abu Dhabi. It is the world's 11th largest oil company by production, standing at 3.1 million barrels per day.It is the UAE's biggest company.