Abu Dhabi National Oil Company (Adnoc) at the World Future Energy Summit on Tuesday announced plans to increase energy efficiency by 10% by 2020 in an effort to reduce…
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 MORE-
A new era for the Lobito terminal
INTERVIEW
Most popular
Abu Dhabi National Oil Company (Adnoc) and Japan’s Inpex have agreed on an extension of their joint development agreement for two offshore oilfields.
On Sunday, a…
READ MOREGulf Marine Services (GMS) on Tuesday announced the award of a three-year charter contract for a mid-size vessel for one of Abu Dhabi’s NOCs, the company said in a…
READ MOREThis week, we looked back on some of the best companies and projects from 2016. We finish the series with National Iranian South Oil Company (NISOC) and the Republic of…
READ MOREEfforts to help local people find work and benefit from their domestic industry are important to governments and to private companies in many oil and gas industry…
READ MOREIn August 2015, the Italian super-major Eni made the largest gas discovery ever in the Mediterranean. For the third part of our series on the best projects of 2016, we…
READ MOREIn the second part of our series highlighting the best companies, projects and people of 2016, we look at stand out projects in sour gas, offshore and vertically…
READ MOREThe Oil & Gas Year covers the international oil and gas industry from the field by interviewing oil industry executives in their markets. During a project, TOGY…
READ MOREBP on Friday acquired a 10% interest Abu Dhabi’s onshore concession managed by Abu Dhabi Company for Onshore Petroleum Operations (ADCO).
The deal, signed with…
READ MOREAmong the word’s major oil companies, Chevron has the smallest share of production in the countries that have said they would reduce production, data from Norwegian…
READ MOREWHOSE PLATFORM IS THIS?
ASK US
- Do you have a question for The Energy Year about oil and gas?
- If we know, we’ll tell you.
- If not, we’ll ask the experts in the field.