Moustafa Rashad, CEO of Al Fanar Gas, talks to The Energy Year about how the company’s one-stop-shop approach has positioned it as a gas distribution leader in the…
READ MOREAbu Dhabi's Energy Industry
Christophe SASSOLAS
President of Total E&P UAE and Total Country Chair for the UAE
TOTAL
Abu Dhabi Energy Industry In Figures
UAE oil reserves97.8 billion barrels
UAE oil production3.67 million bopd
UAE gas reserves5.9 tcm
UAE gas production57 bcm
Abu Dhabi’s Energy Industry Growth
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 Energy Industry News and Articles
Fine Refinery will take on feedstock from Deep Wells new oil play.
READ MOREDive into the undersea and underground world of serving the energy industry.
READ MOREUseful Services lands the biggest contract of its fictional story.
READ MOREADNOC has awarded a contract to the UAE’s National Marine Dredging Company to construct an artificial island as part of the…
READ MOREMaen Razouqi, CEO of Kuwait Airways, talks to The Energy Year about the evolution of the aviation industry in the last few…
READ MORETareq Qaddumi, CEO of SPETCO, talks to The Energy Year about the company’s contribution to KOC’s production increase drive…
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Eng. Abdulla Abdul Aziz AlShamsi, director-general of the Abu Dhabi Investment Office (ADIO), talks to The Energy Year about the growing ease of doing business in Abu…
READ MOREADNOC has drilled the world’s first fully sequestered carbon dioxide injection well, the Emirati NOC announced via social media on Thursday.
The well uses carbon…
READ MOREMurtaza Jariwala, CEO and managing director of Vanguard Engineering & Oilfield Services, talks to The Energy Year about how developments in Oman’s upstream boost…
READ MOREFrédéric Claux, managing director for flexible generation and retail, AMEA, and country manager GCC and Pakistan at ENGIE, talks to The Energy Year about how the UAE…
READ MOREDietmar Siersdorfer, Siemens Energy’s managing director for the Middle East and the UAE, talks to The Energy Year about global energy trends and the key role played…
READ MOREADNOC Logistics and Services has signed a USD 975-million deal with ADNOC Offshore to build an artificial island in the UAE’s Lower Zakum field, the Emirati logistics…
READ MOREADNOC has raised the amount of available shares in the upcoming IPO of its logistics arm from 15% to 19%, the Emirati NOC announced on Monday.
The company cited…
READ MOREADNOC has set a price range for the proposed IPO of its marine and logistics unit with expected returns of up to USD 607 million, Reuters reported on Tuesday.
A…
READ MOREADNOC has decided to float 15% of its maritime logistics arm on the Abu Dhabi Securities Exchange in 2023, the Emirati NOC announced on Wednesday.
A total of 1.1…
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