State oil giant Abu Dhabi National Oil Co (ADNOC) plans to build the world's largest integrated refining and chemical site in Ruwais, United Arab Emirates, said ADNOC's chief executive officer.
Sultan al-Jaber, head of ADNOC, said downstream investments like refining and chemicals represent the company's biggest future opportunity. The company plans on tripling petrochemical production to 14.4 million tonnes annually by 2025, he said.
"Our goal by 2025 is to transform Ruwais into the largest integrated refining and chemicals site in the world - doubling our refining capacity and tripling our petrochemicals production," said al-Jaber.
Al-Jaber said the company also plans to make unexplored blocks of oil in the UAE available for auction in the near-future.