Meanwhile, on the energy front — there’s more details on the USD 60 bn worth of energy agreements between US and UAE firms taking place during the visit. The agreements — which heavily featured Abu Dhabi National Oil Company (Adnoc) — will see US firms develop existing oil and gas fields as well as explore new ones, according to a statement released on Friday.

Here’s a rundown:

  • Expanding Upper Zakum oil field: US-based energy firm ExxonMobil and Japanese oil development firm Inpex Jodco aim to expand the capacity of the UAE’s Upper Zakum oil fields — northwest of the Abu Dhabi Islands. Adnoc, ExxonMobil, and Inpex are looking to upgrade the field’s infrastructure to feature AI-enabled remote operations, link the field to the UAE’s clean energy grid, and integrate artificial islands for drilling activities. The site currently has a production capacity of over 1 mn barrels a day ;
  • Boositing production at Shah Gas field: Adnoc inked a collaboration agreement with US-based energy producer Occidental to boost the local Shah Gas field’s capacity to hit 1.85 bn cubic feet per day (cfd) — up from 1.45 bn cfd — as well as streamline the integration of advanced technologies into the sector. The move looks to ramp up the production of gas for domestic industrial growth as well as LNG for export;
  • Exploring oil fields in Al Dhafra: US-based hydrocarbon exploration firm EOG Resources was granted a new oil exploration concession by Abu Dhabi’s Supreme Council for Financial and Economic Affairs (Scfea). Under the concession, EOG will explore the unconventional Onshore Block 3 — spanning some 3.6 sq km in Al Dhafra — and Andoc will oversee activities as well as retain the option to join a subsequent production concession.

The US also got some love from UAE firms: Adnoc’s global energy investment arm XRG signed an agreement with Occidental subsidiary 1PointFive to explore a potential investment in a direct air capture (DAC) project in Texas’ Kleberg County. The facility would cut nearly 500k tons of carbon dioxide a year through commercial-scale DAC technology. XRG is mulling over a capital commitment of up to one-third of the project’s cost.

The bigger picture: XRG aims to expand its US assets with a focus on bolstering gas, LNG, speciality chemicals, and energy infrastructure. The investment arm is eyeing bns of investments in the US’ energy sector, including through USD 9 bn worth of acquisitions of natural gas assets.

The UAE’s energy investments in the US are set to be valued at USD 440 bn by 2035 — and come as part of a bigger USD 1.4 tn investment pledge in the US.

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