H.E. Suhail Mohamed AL MAZROUEI
Minister of Energy and Infrastructure
UAE
2024 oil reserves:113 billion barrels
2024 oil production:4.19 million bopd
2024 gas reserves:8.22 tcm
2024 gas production:55.3 bcm
Despite its relatively small size, the UAE ranks among the world’s leading nations by oil and gas reserve volume. Abu Dhabi National Oil Company (ADNOC) is responsible for nearly all of the country’s hydrocarbons production. Supported by profits and royalties from the oil and gas sector, the UAE has traditionally channelled high levels of investment into greenfield and brownfield developments to sustain reserves and expand production capacity.
Oil and gas remain central to the UAE’s economy and fiscal strength, although the sector represents a smaller share of GDP than in the past as diversification accelerates. The government has pushed to broaden the economic base through long-term development strategies aimed at building stronger industrial, manufacturing and downstream sectors. While non-oil activity now accounts for the majority of GDP and continues to grow rapidly, hydrocarbons production remains a pillar of the economy and a major enabler of diversification. The UAE is targeting 5 million bopd of crude oil production capacity by 2027 to help meet rising global energy demand. Natural gas is also positioned as a transition fuel in national planning and is expected to remain a significant component of the country’s energy mix through 2050.
At the same time, the UAE is expanding the role of low-carbon energy. The government aims to increase the share of electricity generated from nuclear and renewables by mid-century, while scaling up renewable capacity as part of its wider net-zero agenda. Under the UAE Energy Strategy 2050, the country targets 44% renewables in its energy mix by 2050, alongside an expanded role for nuclear power, as it accelerates investment in utility-scale solar and enabling infrastructure. Overall, the UAE remains one of the region’s fastest-growing renewables markets, with major opportunities emerging in solar, waste-to-energy and hydrogen.
Abu Dhabi has awarded the Bab Gas Cap development and production concession to an ADNOC-led consortium of international companies.
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ADNOC will explore upstream and LNG opportunities in Canada through its international investment arm, XRG.
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ADNOC Drilling is prepared to expand the UAE’s oil production capacity beyond 5 million bopd by 2027 as the country advances…
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The UAE has announced it will leave OPEC, potentially clearing the way for higher production outside OPEC quotas and dealing a…
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Mehul Panchal of Filter Concept talks about the higher efficiency and output that oil and gas facilities can achieve with custom…
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Japan prepares to tap joint oil reserves to counter Middle East supply disruptions.
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ADNOC Gas has adjusted its production of LNG and export liquids due to shipping disruptions in the Strait of Hormuz.
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Kieve Pinto, executive director of Al Faris Group, talks to The Energy Year about how the company has grown its services and asset base to meet the evolving market…
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Mohammed Mohaisen, president and CEO for the Middle East and North Africa at Honeywell, talks to The Energy Year about the importance of public-private collaboration…
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Sami Sharif, CEO of Kuwait Insurance, talks to The Energy Year about the attractiveness of Kuwait’s oil and gas sector and the company’s expansion strategy. Kuwait…
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ADNOC has set a price range for the proposed IPO of its marine and logistics unit with expected returns of up to USD 607 million, Reuters reported on Tuesday.
A…
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Huzaifa A.J., chief technical officer of Dolphin Oilfield Equipment Services, talks to The Energy Year about the dynamics of the heat exchanger business in the UAE and…
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Mike Douglas, CEO of SKA International Group, talks to The Energy Year about the company’s pioneering provision of fuel and logistics services in high-risk areas, its…
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ADNOC Gas has agreed to supply LNG to French energy giant TotalEnergies in a deal worth more than USD 1 billion, the Emirati NOC’s gas subsidiary announced on…
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Eyas Al Homouz, CEO of Petromal, talks to The Energy Year about the company’s growing footprint in EPC and how it is leveraging partnerships in this area, as well as…
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Khalid Al Busaidi, CEO of Heavy Equipment Maintenance and Trading (HEMT), talks to The Energy Year about the company’s key services and innovative sand management…
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Hussein Elsisi, Expro’s vice-president for the MENA region, talks to The Energy Year about new technologies the company is introducing to support emissions reduction…
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