Salem Ashoor, the general manager and chief representative of BP UAE, talks to TOGY about the Adma-Opco and Zadco merger, the OPEC production cap, moving forward during…
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
Tareq Qaddumi, CEO of SPETCO, talks about developing novel solutions for gas processing and expansion plans in Kuwait’s…
READ MOREThe Kuwait Authority for Partnership Projects has invited bids for the development and operation of the IWPP for Al Zour North.
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.
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Abu Dhabi National Oil Company (ADNOC) is negotiating a loan worth up to USD 5 billion, Reuters cited sources as saying Monday.
The sources said the NOC was in talks…
READ MOREAbu Dhabi National Oil Company (ADNOC) has appointed US bank Moelis & Co to assist the company with its plans to attract investment and form partnerships, international…
READ MOREEyas Alhomouz, the CEO of Petromal, talks to TOGY about the investment climate, technology in the UAE market and the potential of marginal fields. Abu Dhabi-based…
READ MOREAbu Dhabi National Oil Company (ADNOC) and Borealis have approved the initial stage of the fourth major expansion of the Borouge petrochemicals complex, the companies…
READ MORERajesh D. Sharma, Schneider Electric’s global strategy and marketing director, oil and gas digital solutions, talks to TOGY about current challenges in the refining…
READ MOREAbu Dhabi National Oil Company (ADNOC) paused negotiations about long-term diesel purchasing agreements, anticipating it may need the supplies to replace natural gas…
READ MOREADNOC is making plans to put some of its services-related businesses on local equity markets in order to create new partnerships, the company said in a statement on…
READ MOREADNOC plans to invest USD 20 billion to develop the Hail, Ghasha, Delma, Nasr and Shuwaihat gasfields, with potential production of 34 mcm [1.2 bcf] per day, Sultan Al…
READ MORETOGY talks to José Pereira, Middle East representative at Partex, about market potential, contract terms and implementation of new technology in Abu Dhabi. Partex has…
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