Abu Dhabi: All projects of the state-owned Abu Dhabi National Oil Company (Adnoc) are on track despite the current global economic downturn, a senior company executive said here on Thursday.
"At Adnoc, we are going ahead with all our projects. We are not stopping," Ali Rashid Al Jarwan, general manager of Abu Dhabi Marine Operating Company (Adma-Opco), an Adnoc group company, told reporters on the sidelines of a two-day conference on preparing future leaders in the oil and gas industry.
Yousef Omair Bin Yousef, Adnoc's chief executive officer, said on Monday the company plans to award projects worth up to $50 billion (Dh184 billion) in 2009-10.
"In Adnoc we look at the bright and positive side of the crisis which has created a window of opportunity in order to execute our giant projects at lower cost and better quality," Bin Yousef said at the opening of the Gastech-2009 exhibition and conference in Abu Dhabi, which ended yesterday.
Badria Khalfan, Human Capital Manager at Adma-Opco said there have been "no layoffs in the entire Adnoc group" resulting from the impact of the global economic crisis.
"We are still hiring and expanding," said Khalfan.
The Adnoc group has about 15,000 employees.
Al Jarwan said Emiratisation in Adma-Opco is currently 54 per cent.
