00:00Well, we're executing a long-term strategy based on what we announced already,
00:06building the capacity to a 5 million barrel of oil per day.
00:10And that by itself is, of course, a major challenge.
00:14But we're committed to achieve that by end of 2027.
00:18As you highlighted, we're deploying capabilities, technologies across the board in Adnok.
00:24We have an ambition, of course, to become the most AI-enabled energy company globally.
00:30And the AI is going to play a big role in fulfilling this vision for building capacity in the oil,
00:39but also continue expanding our gas value chain.
00:43And your current capacity is 4.85 million.
00:46Yes. Today, we have a capacity of 4.85.
00:50And as we highlighted, we're building that capacity to 5 million barrel by end of 2027.
00:56Yeah. Could that 5 million target perhaps be revised higher?
00:59Because of, again, the artificial intelligence incorporation that you just highlighted,
01:04but then equally, you know, some of the new development plans around the upper zakom.
01:09Our strategy is very clear.
01:11We have stated this multiple times, building capacity to 5 million.
01:15But let me highlight, building a capacity to 5 million is going to be a challenge.
01:19But sustaining that for as long as commercially possible is going to put another challenge.
01:26So the likes of upper zakom and other fields, of course, upper zakom is going to be an integral part of our P5 or 5 million barrel capacity expansion.
01:38And it's going to play also a big role in sustaining that production for the future.
01:45What about in unconventionals?
01:46Where do you stand in the exploration phase of potentially shale?
01:51We are making a remarkable progress with the unconventional resources.
01:57We have recently, this year, signed with one of the best-in-class operators in the unconventional EOG.
02:05Previously, we also announced partnership with Petronas.
02:08We are, as Adnok, executing also a de-risking program that we announced earlier.
02:16And the results we see so far are very promising in far or some areas exceeding what we see in the U.S.
02:25I think the story of the unconventional in the U.S. inspired a lot of people around the world.
02:32And I think the lessons learned, the technology deployment, the capabilities developed in the U.S. and other places put us in a very strong position to capitalize on these capabilities and deliver a successful story.
02:48What would you say would be, are you envisaging, are going to be some of the biggest challenges in getting it up and running?
02:54Look, when it comes to the unconventional, it is a completely different game.
03:01The requirement to be, to integrate your services, to have the right resources in place, to take the quick decisions when it comes to the unconventional is completely different than the way we used to run or we are running the conventional oil and gas business.
03:21So, for the unconventional, again, let me re-emphasize that we're making the right steps.
03:27The results are very promising and we are, you know, embarking on the first phase.
03:34Let me highlight the first phase of the gas development.
03:38We have clear sight on developing a minimum of 300 million scup per day in the near future based on the result we achieved so far and the cost reduction we achieved also.
03:49Yeah. How much of a bottleneck would water supply be?
03:53Look, the beauty of Abu Dhabi and, in general, the region here is similar to what you see in the U.S.
04:00You have an established oil and gas infrastructure.
04:04That infrastructure, you have facilities, the water, you have accessibility to water.
04:11And let's remember also part of the oil production, there is a significant water comes with the oil.
04:18So, there is also a synergy that we can repurpose, produce water to serve the unconventional.
04:25So, there are a lot of ideas how do we introduce more efficiencies in the system and create the right ecosystem that will support the development of the unconventional.
04:35Yesterday, in the opening ceremony, His Excellency, Dr. Sultan, was talking about the signal and the noise and that the long-term signal is positive for energy demand.
04:45But noise, there's a bit of volatility.
04:47So, let me ask you about some of that noise and how you see the oil market dynamics playing out in the next six months because there is a huge part of the analyst community that are expecting a big supply glut to hit.
04:58As you highlighted and as the opening ceremony, Dr. Sultan was very clear, if you focus on the signal, let's talk about the signal.
05:09The long-term fundamentals of the energy sector and the energy outlook remains the same.
05:16There is a significant growth on the energy demand driven by, of course, emerging economies, certain sectors like aviation sector or airline fleets.
05:28The number thrown yesterday or mentioned yesterday, we're moving from 25,000 to almost 50,000 airline fleets globally.
05:39Petrochemicals is going to drive demand as well.
05:41So, in the long term, that demand is going to continue growing.
05:46And based on a lot of consensus, outlook consensus, by 2040 and beyond, the anticipated oil demand will remain above 100 million.
05:57That puts a lot of, you know, responsibility on an integrated producer like Adnok.
06:03We are producing one of the lowest costs, but more importantly, one of the lowest carbon intensity barrels globally.
06:10So, it is in the interest of this energy system that a producer like us continue producing reliable and secure and the lowest carbon intensity barrels to the market.
06:24Power, also electricity, is going to expect it to increase significantly.
06:29Data centers and power demand for data centers is expected to increase by 4x.
06:34So, the picture is very clear, the signal is very clear, and the commitment on energy producers is very clear.
06:43We will maintain our strategy to continue fulfilling the growing demand for energy going forward.
06:50We will maintain our strategy through based on energy programs including chat.
06:50We will maintain a defence of energy.
06:50Therefore, this enterprise allows for energy log Communications.
06:51We will maintain our strategy so that we don't deal with it.
06:52We will maintain our strategy management and torque capacity, and the negotiation back as well.
06:53Access rights to the processes that we develop on energy so that we haveblade in the港HHH..
06:55We will always get out of focus on energy celebrations beyond גções rigẫn.
07:09So, that's our strategy.
07:10FLEX a free time thing to do for makes its future deployment.
07:13So my goal is actually massively been the force for energy technology only.
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