Christophe 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.”
Abu Dhabi has awarded the Bab Gas Cap development and production concession to an ADNOC-led consortium of international companies.
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Sonangol has secured a USD 2.65-billion financing package from international lenders to fund operations and capital investment.
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Fred Silva of Navilog Group talks about the company’s new partnership for offshore services in Angola.
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ADNOC and TAQA have signed a long-term utilities development deal for the TA’ZIZ Industrial Chemicals Zone in the UAE.
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With Masdar, ENGIE has reached financial close on the 1.5-GW Khazna Solar PV project in the UAE, its largest development to date.
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Urja Bharat, a joint venture between IndianOil and Bharat Petroleum, has announced two oil discoveries in Abu Dhabi’s onshore…
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Masdar has signed its first PPA in Angola for a 150‑MW solar project, launching the 500‑MW Project Royal Sable.
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A consortium led by super-major Eni and Thailand’s PTT Exploration and Production Public Company have discovered between 42.5-56.6 mcm (1.5-2 tcf) of gas in place on…
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TotalEnergies has joined Masdar and Siemens Energy to develop a demonstration facility in Abu Dhabi to produce green hydrogen for sustainable aviation fuel, the French…
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Abu Dhabi’s National Petroleum Construction Company (NPCC) has unveiled a second mega contract this week, picking up a deal from ADNOC worth USD 946 million for EPC…
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Abu Dhabi’s National Petroleum Construction Company (NPCC) has been awarded a contract worth USD 2.23 billion by Saudi Aramco for EPC works on Saudi Arabia’s giant…
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Abu Dhabi National Oil Company (ADNOC) and partner TAQA have awarded a USD 3.6-billion contract to a consortium led by Korea Electric Power Corporation to decarbonise…
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The Abu Dhabi National Oil Company (ADNOC) has announced a “significant” oil, gas and condensate discovery, saying up to 1 billion boe has been found at the Onshore…
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Plug Power has been awarded a contract to provide technology for a planned 100-MW electrolyser to produce green hydrogen as feedstock for green ammonia production in…
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AIQ has agreed to collaborate with Baker Hughes to create artificial intelligence technology for drilling operations, the AI arm of Abu Dhabi National Oil Company…
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Abu Dhabi National Oil Company has announced spending of around USD 6 billion on drilling contracts to up its capacity to 5 million bopd by 2030, the UAE’s…
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Abu Dhabi National Oil Company (ADNOC) has signed an agreement with Emirates Water and Electricity Company that will see 100% of its grid power come from nuclear and…
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