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- December 12, 2023
Jon Rawding, CEO of Euro Mechanical, talks to The Energy Year about the company’s contributions to the UAE’s energy industry and upcoming trends that will shape the…
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Abu Dhabi's Energy Industry
Christophe SASSOLAS
President of Total E&P UAE and Total Country Chair for the UAE
TOTAL
Gas-fired turbines can rapidly compensate for variations in renewable supply.
Read The Full InterviewAbu 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
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The Kuwait Authority for Partnership Projects has invited bids for the development and operation of the IWPP for Al Zour North.
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Kuwait - March 12, 2024
Faisal Malallah of Al Kout Industrial Projects talks about Kuwait's market for chemical products.
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UAE - March 01, 2024
ADNOC has formally closed the acquisition of a key 24.9% stake in OMV AG, a global energy and chemicals group, from Abu Dhabi…
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UAE - February 26, 2024
DP World and Masdar have agreed to partner on exploring and implementing renewable energy systems at DP World's ports.
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Nigeria - April 03, 2023
Chinedu Maduakoh of Topline talks about the narrative surrounding the Nigerian energy industry.
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