A Pakistani consortium has been awarded Block 5 in Abu Dhabi’s second competitive bid round, Abu Dhabi National Oil Company (ADNOC) confirmed on Tuesday.
The…
READ MOREChristophe SASSOLAS
President of Total E&P UAE and Total Country Chair for the UAE
TOTAL
UAE oil reserves97.8 billion barrels
UAE oil production3.67 million bopd
UAE gas reserves5.9 tcm
UAE gas production57 bcm
Abu Dhabi’s oil and gas industry has rapidly grown on the back of its substantial hydrocarbons potential. The UAE is among the top 10 nations by reserve size despite covering an area of only 84 thousand square kilometres. The Abu Dhabi National Oil Company (ADNOC) is responsible for nearly all the country’s oil and gas production. Given profits and royalties from its oil and gas industry, the country has traditionally poured high levels of investment into its greenfield projects to keep reserves and production on an even keel.
The oil and gas sector is the UAE’s economic axis, representing 40% of its GDP. However, the country has strongly pushed to diversify its economy through its Vision 2030 initiative, including building strong manufacturing and downstream sectors. While non-oil sectors are becoming a more prominent part of the country’s GDP, the hydrocarbons sector remains its key economic pillar and main enabler of diversification.
The UAE is also pushing the growth of renewables in its energy mix. The government has targeted 50% of its power generation coming from nuclear and renewables by 2050. “We now see advanced renewable energy sources increasingly growing their share of the energy mix,” H.E. Eng. Awaidha Murshed Ali Al Marar, chairman of the Abu Dhabi Department of Energy, told The Energy Year. “Nuclear energy is safer than most other sources when it comes to delivering reliable, steady, and stable energy. Its low carbon emissions make it a promising way forward to a cleaner, greener world.”
The Kuwait Authority for Partnership Projects has invited bids for the development and operation of the IWPP for Al Zour North.
READ MOREADNOC and German midstream energy company SEFE have signed a 15-year LNG supply deal.
READ MOREFaisal Malallah of Al Kout Industrial Projects talks about Kuwait's market for chemical products.
READ MOREADNOC has formally closed the acquisition of a key 24.9% stake in OMV AG, a global energy and chemicals group, from Abu Dhabi…
READ MOREDP World and Masdar have agreed to partner on exploring and implementing renewable energy systems at DP World's ports.
READ MOREChinedu Maduakoh of Topline talks about the narrative surrounding the Nigerian energy industry.
READ MOREA Pakistani consortium has been awarded Block 5 in Abu Dhabi’s second competitive bid round, Abu Dhabi National Oil Company (ADNOC) confirmed on Tuesday.
The…
READ MOREThe Abu Dhabi National Oil Company has signed USD 1 billion worth of contracts for FEED works, the company said on Monday.
Agreements were signed with John Wood…
READ MOREAbu Dhabi National Oil Company (ADNOC) has handed out drilling-related contracts worth USD 764 million to boost its production capacity to 5 million bopd by 2050, the…
READ MOREAli El Ali, managing director of Zakher Marine International (ZMI), talks to The Energy Year about the prospects for Abu Dhabi’s new upstream expansion projects and…
READ MOREMatteo Colombo, CEO of Profile Middle East, talks to The Energy Year about the company’s work in providing resources to EPC contractors and the various activities its…
READ MOREAhmad El Tannir, general manager of Al Masaood Oil & Gas, talks to The Energy Year about how energy developments are proceeding in Abu Dhabi despite the pandemic and…
READ MORESaipem has won a USD 510-million contract to provide EPC works on the world’s largest sour gas facility – the Shah plant in Abu Dhabi.
The company announced on…
READ MOREPhilippe Peccard, managing director of Linde Gas & Engineering Middle East, talks to The Energy Year about what needs to be done to unlock hydrogen’s potential and…
READ MORETariq Aslam, the head of MEA for AVEVA, talks to The Energy Year about the benefits for businesses of having unified visibility of their operations and how the…
READ MOREH.E. Eng. Awaidha Murshed Ali Al Marar, chairman of the Abu Dhabi Department of Energy (DoE), talks to The Energy Year about the impact of technology, digitalisation…
READ MOREWHOSE PLATFORM IS THIS?
ASK US