ADNOC contributes AED1 million to Masdar Institute’s young future energy leaders program

Press release
Published May 1st, 2012 - 11:09 GMT

As a sign of continuing cooperation, the Abu Dhabi National Oil Company ADNOC has contributed AED1 million for the second consecutive year in support of the Young Future Energy Leaders YFEL program, an outreach initiative of Masdar Institute of Science and Technology.

The contribution also marks ADNOC’s consistent support as the Platinum Sponsor for the YFEL annual program that aims to inspire, educate and position students and young professionals to become tomorrow’s the energy industry leaders. The current program has more than 160 members.

With a widening support base from the community including leading government organizations, the YFEL program aims to be even more effective in nurturing and fostering energy leaders of the future. One of the key reasons that continue to elicit voluntary response from the wider community, especially important individuals and corporations, is the program’s valuable addition to the professional growth of youth.

His Excellency Abdullah Nasser Al Suwaidi, Director-General of Abu Dhabi National Oil Company ADNOC, said: “As a company that plays an integral role in the progress of the country, ADNOC is deeply committed to the growth of the UAE community in the social, economic and educational sectors. The YFEL program caters to the professional growth requirements of students and young professionals and has made significant contribution in this area. We are confident our contribution to the YFEL will drive the annual program further and benefit a larger segment of the community.”

He also said that young people are considered the decision-makers of tomorrow and through its integrated approach ADNOC is keen to meet their needs, while supporting them to enhance their professional qualifications. He added that ADNOC has adopted this integrated methodology with the national plan for sustainable development to support and encourage such programs and institutions. He pointed out that it is the responsibility of the community to support educational and incentive programs through partnerships.

Dr Fred Moavenzadeh, President, Masdar Institute, said: “As a Masdar Institute outreach initiative, the YFEL program aims to contribute to the country’s economic and social objectives by developing tomorrow’s leaders. We welcome the contribution from ADNOC and we believe community participation in this initiative will bring wider benefits. We thank the UAE’s wise leadership in developing institutions that can provide avenues for social development efforts.”

For 2012, YFEL has already lined up an intensive program schedule for the members. This year, the program commenced with the World Future Energy Summit WFES 2012, in which YFEL members actively participated, showcasing six innovative project concepts.

Earlier, Sultan bin Rashid Al Dhaheri, Member of the UAE Federal National Council FNC, announced his contribution of one million US dollars to the YFEL program, which was in addition to government and private corporations that are equally keen to support the program. Last year, YFEL received support from Mohammed bin Kardous Al Ameri, an Emirati philanthropist, who contributed AED1 million. The individual financial contribution was in addition to the platinum and gold sponsorships that were provided by corporations.

In 2011, the YFEL program also expanded into a year-long schedule of educational courses, activities, and events. The calendar of events during the year became more engaging with the inclusion of moderated debates, participation in global forums, guided tours, an YFEL stakeholder luncheon event, a dinner gathering for members, high-profile presentations from global leaders and students’ presentations on work and research in the areas of advanced energy and sustainability.

Background Information

Abu Dhabi National Oil Company

Abu Dhabi National Oil Company (ADNOC) was established in 1971, to operate in all areas of the oil and gas industry and since then has steadily broadened its activity establishing companies and subsidiaries and creating an integrated oil and gas industry in Abu Dhabi. Today, the company manages and oversees oil production of more than 2.7 million barrels a day which ranks it among the top ten oil and gas companies in the world.

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