Abu Dhabi National Petroleum Company has said it will invest چھ 6 billion in a crude oil exploration project.
The company has made this decision as part of its ongoing strategy to invest in petrol. The Abu Dhabi company is funding schemes needed to adopt environmentally friendly energy.
According to the Economy, the UAE, one of the world's largest oil producers, has said it will achieve its carbon-free energy target by 2050. The UAE is producing 4.2 million barrels of oil per day.
State-owned oil company Adnoc said in a statement that it aims to increase crude oil production to 5 million barrels per day by 2030. To achieve this goal, the state is expanding its production capacity to find new sources of oil. Being done-
