Last Wednesday, the Abu Dhabi Marine Operating Company awarded four contracts, representing a total value of $3.5 billion, for work at Al Nasr and Umm Shaif offshore…
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 MORELast Wednesday, Dutch contractor BAM International was awarded a $87.7-million contract by the Abu Dhabi Company for Onshore Oil Operations (ADCO) for the construction…
READ MOREIn May 2014, Austria-based multinational oil and gas company OMV, together with its partner, Germany’s Wintershall, spudded Shuweihat-5, the first appraisal well at…
READ MOREAt a ceremony commemorating the 20th anniversary of the Azeri-Chirag-Guneshli production-sharing agreement, the government of Azerbaijan broke ground on its most…
READ MOREIn the second quarter of 2014, Aker Solutions Congo, the local subsidiary of the Norwegian oilfield services company, started the delivery of 28 newly developed…
READ MOREShell is a partner in Abu Dhabi Gas Industries and an original member of the Abu Dhabi Company for Onshore Oil Operations (ADCO). Country chairman Andrew Vaughan spoke…
READ MOREOn March 29, 2014, Russia’s Lukoil Overseas began production at West Qurna-2, Iraq’s second-largest oilfield. The company, which manages Lukoil’s international…
READ MORELast Wednesday, Qatar’s state-owned gas company Qatargas sold its first LNG cargo to Chinese independent Jovo LNG Storage and Transportation Company. 640,000 cubic…
READ MOREThe Abu Dhabi Marine Operating Company (ADMA-OPCO) announced first oil from its Umm Lulu offshore greenfield last week.
The Umm Lulu Phase 1 facilities were…
READ MORE– Multinational engineering, procurement and construction company Chicago Bridge & Iron (CB&I) has been awarded a $90-million contract for the overhaul of…
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