Wood has won a project management consultancy (PMC) contract extension for Abu Dhabi’s giant Upper Zakum oil development, the company announced 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.
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READ MOREWood has won a project management consultancy (PMC) contract extension for Abu Dhabi’s giant Upper Zakum oil development, the company announced on Tuesday.
The…
READ MOREEni has been awarded a 25% stake in Abu Dhabi’s Ghasha offshore gas concession by Abu Dhabi National Oil Company (ADNOC), the NOC said in a statement on…
READ MOREAbu Dhabi National Oil Company (ADNOC) will collaborate with Saudi Aramco on gas and LNG projects, under an agreement signed on the sidelines of the Abu Dhabi…
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“The development well Al…
READ MORETotal has agreed on a deal with Abu Dhabi National Oil Company (ADNOC) to explore, appraise and develop the Ruwais Diyab unconventional gas asset in Abu Dhabi.
The…
READ MOREThe Abu Dhabi National Oil Company (ADNOC) will raise its oil production capacity to 4 million bopd by 2020 in light of new oil and gas discoveries, the company said on…
READ MOREAbu Dhabi’s oil and gas exploration licensing round has attracted bids from 39 companies, the head of Abu Dhabi National Oil Company (ADNOC) said on…
READ MOREBaker Hughes, a GE company (BHGE) has agreed to acquire a 5% stake in Abu Dhabi’s ADNOC Drilling for USD 550 million, the companies announced on Monday.
ADNOC…
READ MOREThe Kuwait Foreign Petroleum Exploration Company (KUFPEC) announced on Tuesday it has signed a financing deal worth USD 1.1 billion with five international…
READ MOREADNOC has awarded 3D-seismic contracts worth USD 1.6 billion to a subsidiary of China National Petroleum Corporation (CNPC), the Abu Dhabi NOC announced on…
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