Global Witness analysed the deals ADNOC Group, including all ADNOC subsidiaries, either pursued or confirmed with international entities during 2023, from a variety of datasets, including Rystad Energy’s M&A Analysis Dashboard and LSEG’s Deal Tracker service. While Global Witness did its utmost to identify all deals sought by ADNOC over the last five years, it cannot exclude the possibility that some were missed. Where a dollar value for a transaction was neither disclosed by one or both companies, reported by media, or for which Global Witness was not able to reach a confident estimated figure, values have been labelled as 'unknown'. Not all deals pursued by ADNOC in 2023 were finalised; for several, negotiations are ongoing. Some bids ADNOC made for takeovers or equity stakes in 2023 did not end up materialising. Global Witness has included these deals because it believes there is credible evidence to suggest that ADNOC was involved in active negotiations throughout the year that the UAE was COP28 host.