Page 9 - ADOC Sustainability Report 2023

ADOC 2023 SUSTAINABILITY REPORT

ADOC’s operations in Abu Dhabi are regulated under the Supreme Council for Financial and Economic Affairs (SCFEA). The
SCFEA is the superior authority responsible for the petroleum industry in the Emirate of Abu Dhabi. The SCFEA formulates
and oversees the implementation of Abu Dhabi's petroleum policy and follows up its implementation across all areas of the
petroleum industry in the Emirate to ensure that the set goals are accomplished. ADOC also follows standards and guidelines in
line with ADNOC, which is a state-owned oil company in United Arab Emirates responsible for the production and marketing
of all Abu Dhabi oil and gas exploration and production.
Since its establishment in 1968, ADOC has been highly regarded for its achievements within the industry through safe, effective,
and reliable operations. ADOC is strongly committed towards sustainability as well as HSE and has developed procedures in
alignment with the ADNOC HSE Standards. Through ADOC’s safe and stable operations, we can continue our contribution
to the development of Abu Dhabi and the supply of crude oil to Japan.

OUR SHAREHOLDERS

ADOC is owned by four Japanese shareholders, who provide governance and propel the growth of the Company in a safe and
sustainable manner.

ADOC was originally formed in 1968 by Maruzen Oil Co., Ltd., Daikyo Oil Co., Ltd. (these two companies have since merged
into the present Cosmo Energy Exploration and Production Co., Ltd.) and Nippon Mining Co., Ltd. (Now JX Nippon Oil & Gas
Exploration Corporation). Since then, two additional shareholders, Kansai Electric Power Co. Inc. and Chubu Electric Power
Co. Inc. have also joined the consortium. The ADOC shareholders lead all decision-making processes relating to the future of
the Company.

ADOC'S SHAREHOLDERS

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