Abu Dhabi’s ADNOC has awarded Japan’s Cosmo Energy Holdings Company a 100% stake in the exploration phase for Offshore Block 4 – the third award in the emirate’s…
READ MOREAbu Dhabi's Energy Industry
Christophe SASSOLAS
President of Total E&P UAE and Total Country Chair for the UAE
TOTAL
Abu Dhabi Energy Industry In Figures
UAE oil reserves97.8 billion barrels
UAE oil production3.67 million bopd
UAE gas reserves5.9 tcm
UAE gas production57 bcm
Abu Dhabi’s Energy Industry Growth
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.”
Abu Dhabi Energy Industry News and Articles
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 MOREAmey Kulkarni, technical director of The Bell Group, talks to The Energy Year about the company’s latest work on AI applications for the energy sector. Bell Group…
READ MOREAbu Dhabi’s Emirates Water and Electricity Company (EWEC) and Abu Dhabi Waste Management Centre (Tadweer) have launched a tender for a greenfield waste-to-energy IPP,…
READ MOREKlaus Schick, managing director of ILF Consulting Engineers, talks to The Energy Year about the pandemic’s impact on the company’s UAE operations and the latest on…
READ MOREAbu Dhabi investment firms Mubadala and ADQ and state energy company ADNOC have joined together to form an alliance to develop low-carbon green and blue hydrogen…
READ MORENabil Al Alawi, CEO of AlMansoori Specialized Engineering, talks to The Energy Year about the importance of creating an environment for innovative solutions such as the…
READ MOREAbu Dhabi’s ADNOC has awarded the first offshore block in the emirate’s second competitive bid round to a consortium of Italy’s Eni and Thailand’s PTTEP, the NOC…
READ MOREObaid Abdulla Al Dhaheri, CEO of Dolphin Energy, talks to The Energy Year about the latest developments in the Dolphin Gas Project and the company’s future plans.…
READ MOREAbu Dhabi has awarded exploration rights for onshore Block 5 to US independent Occidental, ADNOC announced on Wednesday.
The award was made as part of the bid round…
READ MOREAbdourazak Kone, general manager of Emirates Western Oil Well Drilling & Maintenance Company, talks to The Energy Year about how Abu Dhabi’s upstream projects will…
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