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's ADNOC has signed a 15-year LNG deal for the supply of 1 million tonnes per year to Indian Oil.
READ MORE
ADNOC will take a 35% equity stake in ExxonMobil's low-carbon hydrogen project in Baytown, Texas.
READ MORE
ADNOC is deploying an in-house AI-enabled process optimisation technology across its operations.
READ MORE
ADNOC Drilling has won a $733-million contract to supply three island rigs for the Zakum oilfield offshore Abu Dhabi.
READ MORE
ADNOC has reached a FID on the Ruwais LNG project and awarded USD 5.5 billion in EPC contracts.
READ MORE
Azerbaijan's SOCAR has acquired a 3% stake in the SARB and Umm Lulu concession offshore Abu Dhabi from ADNOC.
READ MORE
Alexandre Eykerman of Wärtsilä talks about the company’s pioneering role in adapting its solutions to the energy transition.
READ MORE
Ahmad El Tannir, general manager of Al Masaood Oil & Gas, talks to The Energy Year about strengths in the UAE’s handling of the Covid-19 and oil price crises and how…
READ MORE
Shah H. Sheikh, co-founder and cyber security adviser at DTS Solution, talks to The Energy Year about the lessons emerging from the Covid-19 crisis, the pandemic’s…
READ MORE
The Energy Year talks to Thony Brito Cardier, regional sales manager for Sensia, about key drivers behind industry automation and why the company expects to remain…
READ MORE
Sridhar Chinnasami, CEO of Galfar Emirates, talks to The Energy Year about how the company is focusing its efforts on monitoring its employees’ health while driving…
READ MORE
Jaafar Altaie, managing director of Manaar Energy, talks to The Energy Year about what it will take for companies to survive the Covid-19 crisis and the role that data…
READ MORE
Chadi A. Salloum, corporate/energy partner at Morgan, Lewis & Bockius LLP, talks to The Energy Year about how companies’ advisory needs are changing during the…
READ MORE
Helge Christian Beuthan, managing director for the United Arab Emirates at Wintershall Dea, talks to The Energy Year about how the company is responding globally to the…
READ MORE
At ADIPEC 2019, Zakher Marine International introduces the advanced features of its new jackup…
READ MORE
H.E. Mohammad Sanusi Barkindo, secretary-general of OPEC, talks to TOGY about the role of member countries in reducing greenhouse gas emissions, projections for future…
READ MORE
H.E. Suhail Mohamed Al Mazrouei, minister of energy and industry of the UAE, talks to TOGY about the UAE’s energy diversification efforts.
READ MOREWHOSE PLATFORM IS THIS?
ASK US
