Masdar has signed three agreements to develop 5 GW of renewable capacity in Angola, Uganda and Zambia, the Emirati green energy company announced on Friday.
The…
READ MOREChristophe 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.”
Alexandre Eykerman of Wärtsilä talks about the company’s pioneering role in adapting its solutions to the energy transition.
READ MOREADNOC will supply of 600,000 tpy of LNG for 15 years to EnBW from the low-carbon Ruwais LNG project.
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 MOREMasdar has signed three agreements to develop 5 GW of renewable capacity in Angola, Uganda and Zambia, the Emirati green energy company announced on Friday.
The…
READ MORENational Petroleum Construction Company and partners have signed an EPC contract with ADNOC for the offshore segment of the Hail and Ghasha field development project in…
READ MOREPat Fallon, deputy CEO of Byrne Equipment Rental, talks to The Energy Year about how the company is responding to client demand for sustainable equipment and its…
READ MOREADNOC has partnered with 44.01 to pilot the first carbon capture mineralisation project in the Middle East, the Emirati NOC announced on Tuesday.
The development…
READ MOREJeremy Crane, CEO of Yellow Door Energy, talks to The Energy Year about the receptiveness to decentralised energy supply solutions in the UAE and the ease of developing…
READ MOREADNOC has established a new entity in charge of all its gas processing and LNG operations, the Emirati NOC announced on Tuesday.
ADNOC Gas, which was officially…
READ MOREADNOC has allocated USD 15 billion towards decarbonisation projects by 2030, the Emirati NOC announced on Thursday.
Developments include CCS, electrification,…
READ MORESherif Foda, CEO of National Energy Services Reunited Corp. (NESR), talks to The Energy Year about recent fluctuations in hydrocarbons financing, how the industry is…
READ MOREADNOC, state energy holding company Abu Dhabi National Energy Company (TAQA) and sovereign wealth fund Mubadala Investment Company have all become shareholders of the…
READ MOREADNOC has put down a budget of USD 150 billion for the next five years to pursue having net zero carbon emissions by 2050 and upping its production capacity to 5…
READ MOREWHOSE PLATFORM IS THIS?
ASK US