TOGY talks to Neri Askland, vice-president of the Middle East at Statoil, about the advantages of carbon capture and storage technology, Abu Dhabi’s oil production…
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.
READ MOREOn Sunday, Mubadala Petroleum named Bakheet Al Katheeri as its new CEO. Al Katheeri succeeds Musabbeh Al Kaabi, who will go on to lead the petroleum and petrochemicals…
READ MORETOGY talks to Mohammad Shahin, managing director of MUC Oil & Gas, about petrochemicals refining and storage capabilities in Abu Dhabi. MUC Oil & Gas provides…
READ MORETOGY’s coverage of this week’s news covered major moves by multinationals and NOCs in terms of investment and divestments in markets around the globe. Other news…
READ MOREThe news of the past week revolved around major deals in Abu Dhabi, a fresh oil find and additional reserves in Iraq and a slew of annual results announcements.…
READ MOREAbu Dhabi National Oil Company on Monday awarded the remaining 4% share in the emirate’s onshore concession area, operated by Abu Dhabi Company for Onshore Petroleum…
READ MOREChina National Petroleum Corporation (CNPC) on Sunday closed a deal with Abu Dhabi National Oil Company (ADNOC) for a stake in the emirate’s onshore…
READ MOREOil prices fell slightly on Friday despite OPEC’s bullish report earlier this week, with Brent futures down by around 0.5% at USD 55.31 per barrel in early afternoon…
READ MORETOGY talks to Yasser Zaghloul, CEO of the National Marine Dredging Company. Founded in 1976, NMDC executes dredging projects in the regional waters of the UAE.
READ MOREThe pre-qualification round for EPC work at ADCO’s Bu Hasa onshore oilfield has begun and is expected to draw quite a crowd.
A large group of EPC contractors are…
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