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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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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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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Inpex has agreed to buy a 10% stake in the Lower Zakum concession offshore the UAE, Abu Dhabi’s NOC ADNOC said on Monday.
The Japanese company has paid USD 600…
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ADNOC has sold a 20% stake in the SARB and Umm Lulu offshore concession to Mubadala subsidiary Cepsa for USD 1.5 billion, the Abu Dhabi NOC announced on Sunday.
The…
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India’s Larsen & Toubro has struck an Abu Dhabi EPC deal, the engineering giant announced on Monday, shortly after a consortium led by ONGC sealed an offshore…
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ADNOC will invest about USD 3.1 billion upgrading its Ruwais refinery to process heavier crudes, Abu Dhabi’s NOC said on Wednesday.
“Enabling the Ruwais…
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India’s ONGC has awarded Abu Dhabi’s National Petroleum Construction Company (NPCC) a contract valued at USD 327 million to construct offshore infrastructure on the…
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Abu Dhabi National Oil Company (ADNOC) has entered into a three-year naphtha supply deal with Malaysia’s Lotte Chemical Titan, the Abu Dhabi NOC announced on…
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Abu Dhabi National Oil Company (ADNOC) has awarded the Hail and Ghasha FEED contract to Bechtel and the Dalma FEED work to TechnipFMC, the company announced…
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Ahmed Omar Abdulla, the CEO of Borouge, talks to TOGY about competition in the global market and strategies for sustainability. Borouge, a joint venture between ADNOC…
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