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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BP 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…
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Among 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…
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Abu Dhabi National Oil Company (Adnoc) aims to more than double its petrochemicals output over the next nine years, its CEO said on Monday.
According to Sultan Ahmed…
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The Abu Dhabi International Petroleum Exhibition & Conference got underway on Monday with statements by Abu Dhabi National Oil Company (ADNOC) CEO Sultan Al Jaber on…
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The Abu Dhabi National Oil Company (ADNOC) approved a new five-year business plan as part of its 2030 strategy on Wednesday, the same day it unveiled its new…
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Occidental Petroleum lost some USD 241 million in Q3, the company announced on Tuesday, a day after it said it had spent some USD 2 billion on land in the Permian Basin…
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TOGY talks to Andrew Kamau, the principal secretary of Kenya’s State Department of Petroleum, about the South Sudan-Kenya pipeline agreement and the stages of the…
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Abu Dhabi’s two offshore oil and gas companies will be restructured and combined under the umbrella of a new entity, Abu Dhabi National Oil Company (Adnoc) said on…
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A survey of professionals working in the oil and gas industry has shown that more than half believe that tackling climate change should be a priority for both…
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The current business environment presents long-term investors with opportunities, the chief executive of Abu Dhabi’s Mubadala Development Company said on…
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