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The UAE's Energy Industry

H.E. Suhail Mohamed AL MAZROUEI

Minister of Energy and Infrastructure

UAE

We recognise that energy security, economic development and climate action are closely interlinked.
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The UAE's Energy Industry In Figures

Proven oil reserves (2022): 111 billion barrels

Proven natural gas reserves (2022): 6.46 tcm (228.1 tcf)

LNG exports (2022): 7.6 bcm (268.4 bcf)

Installed solar PV capacity (2022): 3.04 GW

A global pioneer in energy

Despite its relatively small size, the UAE ranks among the world’s top 10 nations by oil and gas reserve volume. The Abu Dhabi National Oil Company (ADNOC) is responsible for nearly all of the country’s hydrocarbons production. Given profits and royalties from its oil and gas sector, the country has traditionally allotted high levels of investment to its greenfield projects to keep reserves and production robust.

The oil and gas sector is the UAE’s economic axis, representing 40% of its GDP. However, the government has pushed to diversify the economy through its Vision 2030 initiative, which envisions building strong manufacturing and downstream sectors. But while non-oil sectors are becoming a more prominent part of the GDP, hydrocarbons production remains the country’s key economic pillar and main enabler of this diversification. The UAE targets 5 million bopd of production by 2027 to meet soaring energy demand worldwide. Moreover, natural gas is seen as a transitional fuel that will make up 38% of the country’s energy mix by 2050.

The UAE is also expanding the role of renewables in its energy mix. The government is targeting a share of 50% of power generation from nuclear and renewables by 2050. “The UAE follows a positive, pragmatic approach to the energy transition as it continues to meet the global energy needs of today, while investing heavily in the new energy systems of tomorrow,” Minister of Energy and Infrastructure H.E. Suhail Mohamed Al Mazrouei told The Energy Year.  Overall, the UAE is the region’s fastest-growing market for renewables, and major opportunities have arisen in the areas of solar, waste-to-energy and hydrogen.

UAE Energy Industry News and Articles

ADNOC Drilling wins $1.7-billion drilling contract
NEWS
ADNOC Drilling wins $1.7-billion drilling contract
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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Sharjah’s SNOC acquires stake in Eni block in UAE
NEWS
Sharjah’s SNOC acquires stake in Eni block in UAE
UAE - May 10, 2024

Sharjah National Oil Corporation has acquired a 30% participating interest in a block from Eni in Ras Al Khaimah, UAE.

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UAE maps

AD Ports Commercial Ports and Terminals Map UAE 2023

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Wartsilas-visionary-role-in-the-energy-transition
Interview
Wärtsilä’s visionary role in the energy transition
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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ADNOC signs 15-year LNG supply deal with EnBW
NEWS
ADNOC signs 15-year LNG supply deal with EnBW
UAE - May 09, 2024

ADNOC will supply of 600,000 tpy of LNG for 15 years to EnBW from the low-carbon Ruwais LNG project.

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Presight AI takes 49% stake in ADNOC energy AI player
NEWS
Presight AI takes 49% stake in ADNOC energy AI player
UAE - May 02, 2024

Presight has acquired a 51% shareholding in AIQ, an energy-focused AI player founded by ADNOC and G42.

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SLB’s strong engagement in Kuwait _Karim-AL-SAYED
Interview
SLB’s strong engagement in Kuwait
Kuwait - February 22, 2024

Karim Al Sayed of SLB talks about key trends and developments shaping Kuwait's upstream and SLB’s key role in the sector.

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TEY_post_Zaheer-Juddy
Interview
Critical services
- December 13, 2023

Zaheer Juddy, CEO and founder of AIMS Group of Companies, talks to The Energy Year about the critical nature of sulphur removal and processing in the UAE and the…

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TEY_post_Sameer-MOHAMMED
Interview
The changing dynamics of the rig market
- December 12, 2023

Sameer Mohammed, CEO and managing director of Ocean Oilfield Integrated Solutions, talks to The Energy Year about how the company has aligned itself with changing rig…

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TEY_post_Jon-Rawding
Interview
Trends and innovation in energy
- December 12, 2023

Jon Rawding, CEO of Euro Mechanical, talks to The Energy Year about the company’s contributions to the UAE’s energy industry and upcoming trends that will shape the…

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