Middle East Energy Awards: ADNOC wins 2019 Downstream Project of the Year Award for its Project Stretch

Middle East Energy Awards: ADNOC wins 2019 Downstream Project of the Year Award for its Project Stretch
Energy ME awards 2019 held at Play restaurant H hotel
Published: 29 September 2019 - 3:30 a.m.
By: Martin Menachery
Past ten years had been remarkable in the progress of the Middle East refining and petrochemicals industry as it witnessed implementation of landmark projects, development of game-changing technologies and creation of novel products, under the leadership of dynamic technocrats.

The roadmap to success for the downstream industry is defined by the right combination of people, projects, processes and products. The outlook for the Middle East downstream industry is strong. There is tremendous potential for the industry to reap the benefits of this positive outlook. The industry’s strategic actions today will define its position in the global downstream landscape during the next decade. People, projects, processes and products are the essential ingredients in this transformation.

ADNOC’s Project Stretch will result in the establishment of a global trading platform and will be one of the largest ever refinery partnership transactions worldwide. The global trading platform will enable the company to develop systems with ability to access high-growth markets and reach end consumers directly.

“On behalf of ADNOC, it is a great honour to accept the Downstream Project of the Year Award. Project Stretch was successful because of unified and remarkable efforts from many parties across ADNOC. This project has demonstrated ADNOC’s key principles of collaboration, openness and progressiveness, and equally also for our partners ENI and OMV,” said Hassan Al Hosani, vice president, refining business, Downstream Directorate, ADNOC.

With Project Stretch, the objective was to identify strategic partners for ADNOC Refining that would be aligned with ADNOC’s downstream vision, to stretch the value of each barrel of oil produced via operational excellence in refining operations. The project led to the establishment of a global trading platform, and is considered to be one of the largest ever refinery partnership transactions worldwide.”

The ‘highly commended’ nomination in this category is for Duqm Refinery Project by Duqm Refinery and Petrochemical Industries Company.

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