NEWS
Abu Dhabi - April 11, 2018
Abu Dhabi has kicked off its first licensing round, NOC ADNOC said on Tuesday.
Four onshore and two offshore blocks, together spanning around 30,000 square…
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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
NEWS
Kuwait - April 02, 2024
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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NEWS
UAE - March 19, 2024
ADNOC and German midstream energy company SEFE have signed a 15-year LNG supply deal.
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Interview
Kuwait - March 12, 2024
Faisal Malallah of Al Kout Industrial Projects talks about Kuwait's market for chemical products.
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NEWS
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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NEWS
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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Interview
Nigeria - April 03, 2023
Chinedu Maduakoh of Topline talks about the narrative surrounding the Nigerian energy industry.
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NEWS
Multinational - April 05, 2018
An OMV well has struck gas and condensates in two separate formations in offshore licence PL 644 B in the Norwegian Sea, partner Faroe Petroleum announced on…
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NEWS
Abu Dhabi - April 03, 2018
Ras Al Khaimah, the UAE’s northern-most emirate, announced its first oil licensing round on Monday.
Bids for four offshore and three onshore blocks are expected in…
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NEWS
Abu Dhabi - March 29, 2018
ADNOC has sealed agreements with Japan’s Idemitsu Kosan and Thailand’s SCG Chemicals for deliveries of about 1.5 million tpy of naphtha over a period of three…
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NEWS
Abu Dhabi - March 26, 2018
ADNOC has awarded deals worth more than USD 3.5 billion to Samsung Engineering, the Abu Dhabi NOC announced on Monday.
The South Korean company will upgrade Ruwais…
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NEWS
Multinational - March 22, 2018
WorleyParsons has received two project management consultancy contracts from Kuwait Oil Company and ADNOC, international media reported on Wednesday.
In Kuwait, the…
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NEWS
Abu Dhabi - March 21, 2018
China National Petroleum Corporation (CNPC) has struck a deal with ADNOC to buy 10% stakes in the Lower Zakum and Umm Shaif and Nasr fields, the Abu Dhabi NOC announced…
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NEWS
Abu Dhabi - March 19, 2018
Total has purchased stakes in two concessions offshore Abu Dhabi for USD 1.45 billion, the super-major announced on Sunday.
Total has received a 20% interest in the…
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NEWS
Multinational - March 13, 2018
Qatar Petroleum (QP) has renewed its agreement with Abu Dhabi for the shared El Bunduq oilfield despite an ongoing boycott on Qatar by the UAE and other Arab states,…
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NEWS
Abu Dhabi - March 07, 2018
ADNOC plans to turn the Ruwais refinery into the world’s largest integrated refining and petrochemicals complex, the Abu Dhabi NOC announced on Wednesday.
The…
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