Christophe 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.”
Abu Dhabi has awarded the Bab Gas Cap development and production concession to an ADNOC-led consortium of international companies.
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Sonangol has secured a USD 2.65-billion financing package from international lenders to fund operations and capital investment.
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Fred Silva of Navilog Group talks about the company’s new partnership for offshore services in Angola.
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ADNOC and TAQA have signed a long-term utilities development deal for the TA’ZIZ Industrial Chemicals Zone in the UAE.
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With Masdar, ENGIE has reached financial close on the 1.5-GW Khazna Solar PV project in the UAE, its largest development to date.
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Urja Bharat, a joint venture between IndianOil and Bharat Petroleum, has announced two oil discoveries in Abu Dhabi’s onshore…
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Masdar has signed its first PPA in Angola for a 150‑MW solar project, launching the 500‑MW Project Royal Sable.
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CEFC’s agreement to purchase 14.16% of Rosneft for USD 9.1 billion is on hold until a new leadership takes over the Chinese company, international media reported on…
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Ghana will conduct its first exploration licensing round in Q4, international media reported on Thursday.
The country, which currently produces about 200,000 bopd,…
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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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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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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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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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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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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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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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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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