NEWS
Abu Dhabi - October 15, 2014
– 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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Abu Dhabi's Energy Industry
Christophe SASSOLAS
President of Total E&P UAE and Total Country Chair for the UAE
TOTAL
Gas-fired turbines can rapidly compensate for variations in renewable supply.
Read The Full InterviewAbu 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
NEWS
UAE - May 13, 2024
ADNOC Drilling has secured a "transformational" USD 1.7-billion contract to drill 144 wells in the UAE from parent company ADNOC.
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Interview
Multinational - May 09, 2024
Alexandre Eykerman of Wärtsilä talks about the company’s pioneering role in adapting its solutions to the energy transition.
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NEWS
Kuwait - April 02, 2024
The Kuwait Authority for Partnership Projects has invited bids for the development and operation of the IWPP for Al Zour North.
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Interview
Kuwait - March 12, 2024
Faisal Malallah of Al Kout Industrial Projects talks about Kuwait's market for chemical products.
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NEWS
UAE - March 01, 2024
ADNOC has formally closed the acquisition of a key 24.9% stake in OMV AG, a global energy and chemicals group, from Abu Dhabi…
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NEWS
UAE - February 26, 2024
DP World and Masdar have agreed to partner on exploring and implementing renewable energy systems at DP World's ports.
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NEWS
Abu Dhabi - October 01, 2014
The UAE’s Undersecretary to the Ministry of Energy confirmed last week that the country is on track to increase oil production to 3 million barrels per day (bopd) by…
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NEWS
Abu Dhabi - September 23, 2014
Partially state-owned natural gas company Dolphin Energy said last Wednesday it is to increase its LNG imports in early 2015 to meet rising demand.
“Energy…
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NEWS
Abu Dhabi - September 17, 2014
Private natural gas company Dana Gas’ subsidiary Dana Gas Explorations announced last week that it had secured $100 million to finance the start of production from…
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NEWS
Abu Dhabi - September 10, 2014
The Abu Dhabi arm of Omani construction firm Al Hassan Engineering has been subcontracted for three oil and gas developments worth a combined $34.65 million, the…
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NEWS
Abu Dhabi - September 03, 2014
Egypt’s ministry of oil told Reuters on Sunday that the UAE would provide the country with around $8.7 billion worth of oil products over the next year.
The deal…
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NEWS
Abu Dhabi - August 27, 2014
Abu Dhabi’s state-owned investment company, Mubadala Petroleum, entered talks on Sunday to buy a $3-billion stake in the $10-billion Shah sour gasfield development…
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NEWS
Abu Dhabi - August 20, 2014
The UAE’s state-owned oilfield services firm, National Drilling Company (NDC), announced the inauguration of a new land rig on Sunday to increase its number of rigs…
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NEWS
Abu Dhabi - July 23, 2014
Abu Dhabi Marine Operating Company (ADMA-OPCO) is preparing to finalise engineering, procurement and construction (EPC) contracts for phase one of the Nasr full field…
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NEWS
Abu Dhabi - July 16, 2014
The Abu Dhabi Marine Operating Company awarded South Korean shipbuilder Hyundai Heavy Industries a $1.94-billion contract for the Nasr oilfield offshore Abu Dhabi,…
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