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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Sameer Mohammed, CEO and managing director of Ocean Oilfield Integrated Solutions, talks to The Energy Year about how the company has aligned itself with changing rig…
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Sumeet Vinayak, business development director for GCG and Emirates E&I, and Hassan Metla, group CEO of Aban Investment, talk to The Energy Year about their activities,…
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Jon Rawding, CEO of Euro Mechanical, talks to The Energy Year about the company’s contributions to the UAE’s energy industry and upcoming trends that will shape the…
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Harry Moraes, chairman of Fabtech International, talks to The Energy Year about how the company has achieved its place at the forefront of the fabrication industry and…
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Mitsuru Anezaki, CEO of Al Gharbia Pipe Company (AGPC), talks to The Energy Year about the company’s current projects and the competitive advantages that have allowed…
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Atif Arikat, managing director of Al Ghaith Energy, talks to The Energy Year about how energy market dynamics are evolving in the UAE, the company’s strategy for…
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Karim Attiyah, managing director and group CEO of Emirates Specialized Contracting And Oilfield Services (ESCO), talks to The Energy Year about the extent to which the…
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Salem bin Ashoor, bp’s chief representative and general manager in the UAE, talks to The Energy Year about how the company is positioning itself at the forefront of…
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Tim Clarke, CEO of Dubai Waste Management Company (DWMC), talks to The Energy Year about how the company reflects the larger ambitions of the UAE, how waste is…
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Valerie Levkov, EDF’s regional vice-president for the Middle East and Africa, talks to The Energy Year about how the company is aligned with the leadership role the UAE…
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