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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The Kuwait Foreign Petroleum Exploration Company (KUFPEC) announced on Tuesday it has signed a financing deal worth USD 1.1 billion with five international…
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ADNOC has awarded 3D-seismic contracts worth USD 1.6 billion to a subsidiary of China National Petroleum Corporation (CNPC), the Abu Dhabi NOC announced on…
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Chinedu Maduakoh, the managing director and CEO of Topline, talks to TOGY about the need to replace ageing pipelines, Nigeria’s shift in focus from oil to gas…
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ADNOC will pick up a 25% stake in the planned Ratnagiri mega-refinery, local and international media reported on Monday.
The Abu Dhabi NOC has joined Saudi Aramco in…
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The emirate of Sharjah launched a licensing round for three blocks on Monday, local media reported.
Sharjah National Oil Corporation is to keep 25% stakes in areas A…
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ADNOC struck a deal for the construction of a linear alkylbenzene unit at the Ruwais refinery and petrochemical complex on Monday, shortly after announcing that its…
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ADNOC has appointed Japan’s Inpex as asset leader for the Lower Zakum offshore concession, the Abu Dhabi NOC announced on Monday.
“As asset leader, [local Inpex…
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Austria’s OMV has signed a USD 1.5-billion deal with ADNOC to acquire a 20% stake in production rights for 40 years at the Satah Al Razboot and Umm Lulu fields…
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Kuwait Petroleum Corporation (KPC) aims to more than double its tanker fleet by 2040, reaching a total of 60 vessels.
The announcement was made at the Middle East…
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ADNOC has established a unit to engage in non-speculative trading within its directorate for marketing, sales and trading, the Abu Dhabi NOC announced on Monday.
The…
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