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.
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ADNOC will take a 35% equity stake in ExxonMobil's low-carbon hydrogen project in Baytown, Texas.
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ADNOC is deploying an in-house AI-enabled process optimisation technology across its operations.
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ADNOC Drilling has won a $733-million contract to supply three island rigs for the Zakum oilfield offshore Abu Dhabi.
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ADNOC has reached a FID on the Ruwais LNG project and awarded USD 5.5 billion in EPC contracts.
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Azerbaijan's SOCAR has acquired a 3% stake in the SARB and Umm Lulu concession offshore Abu Dhabi from ADNOC.
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Alexandre Eykerman of Wärtsilä talks about the company’s pioneering role in adapting its solutions to the energy transition.
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Ali Nasser Al Hadabi, CEO of Oman Electricity and Transmission Company (OETC), talks to TOGY about measures to increase competitiveness, Oman’s capacity to attract…
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OMV has been awarded a 5% stake in the Ghasha gas concession, a recently delineated ultra-sour gas asset in Abu Dhabi, the Austrian company announced on…
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Abu Dhabi’s ADNOC has awarded a contract to Spain’s Técnicas Reunidas to supply FEED services for a linear alkyl benzene (LAB) plant in the emirate, the NOC…
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A giant refinery being built by Indian state companies in partnership with Saudi Arabia’s Aramco and Abu Dhabi’s ADNOC has been delayed by two years.
A top…
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Abu Dhabi’s ADNOC has awarded a 4% stake in its ADNOC Onshore concession to North Petroleum International Company, a subsidiary of China’s ZhenHua Oil.
“China…
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Abu Dhabi’s ADNOC Logistics & Services has signed a framework agreement with Japan’s Inpex Corporation to partner on LNG bunkering.
The two companies will look…
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Wintershall has taken a 10% stake in Abu Dhabi’s Ghasha ultra-sour gas development, the emirate’s NOC announced on Monday.
Abu Dhabi National Oil Company (ADNOC)…
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Técnicas Reunidas has awarded a USD 142-million mechanical and electrical construction contract for Abu Dhabi’s Bu Hasa oilfield to Arabtec unit Target…
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Oil prices continued to fall on Thursday as data revealed crude inventories have been rising more than expected.
Crude Oil WTI Futures declined 0.4%, at $56.1 a…
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Abu Dhabi-based Zakher Marine International Inc. group (ZMI) has announced the conclusion of USD 125 million in financing supported by Sinosure for the expansion of its…
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