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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CEFC’s agreement to purchase 14.16% of Rosneft for USD 9.1 billion is on hold until a new leadership takes over the Chinese company, international media reported on…
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Ghana will conduct its first exploration licensing round in Q4, international media reported on Thursday.
The country, which currently produces about 200,000 bopd,…
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Abu Dhabi has kicked off its first licensing round, NOC ADNOC said on Tuesday.
Four onshore and two offshore blocks, together spanning around 30,000 square…
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An OMV well has struck gas and condensates in two separate formations in offshore licence PL 644 B in the Norwegian Sea, partner Faroe Petroleum announced on…
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Ras Al Khaimah, the UAE’s northern-most emirate, announced its first oil licensing round on Monday.
Bids for four offshore and three onshore blocks are expected in…
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ADNOC has sealed agreements with Japan’s Idemitsu Kosan and Thailand’s SCG Chemicals for deliveries of about 1.5 million tpy of naphtha over a period of three…
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ADNOC has awarded deals worth more than USD 3.5 billion to Samsung Engineering, the Abu Dhabi NOC announced on Monday.
The South Korean company will upgrade Ruwais…
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WorleyParsons has received two project management consultancy contracts from Kuwait Oil Company and ADNOC, international media reported on Wednesday.
In Kuwait, the…
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China National Petroleum Corporation (CNPC) has struck a deal with ADNOC to buy 10% stakes in the Lower Zakum and Umm Shaif and Nasr fields, the Abu Dhabi NOC announced…
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Total has purchased stakes in two concessions offshore Abu Dhabi for USD 1.45 billion, the super-major announced on Sunday.
Total has received a 20% interest in the…
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