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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TOGY talks to Christopher Gunson, partner at Amereller, about the oil and gas industry in the UAE and the surrounding region, other countries with potential, and the…
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Abu Dhabi Company for Onshore Petroleum Operations (Adco), established in 1960 and led by Saif Ahmed Al Ghafli, operates as a subsidiary for the Abu Dhabi National Oil…
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Abu Dhabi National Oil Company (Adnoc) at the World Future Energy Summit on Tuesday announced plans to increase energy efficiency by 10% by 2020 in an effort to reduce…
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Abu Dhabi National Oil Company (Adnoc) and Japan’s Inpex have agreed on an extension of their joint development agreement for two offshore oilfields.
On Sunday, a…
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Gulf Marine Services (GMS) on Tuesday announced the award of a three-year charter contract for a mid-size vessel for one of Abu Dhabi’s NOCs, the company said in a…
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This week, we looked back on some of the best companies and projects from 2016. We finish the series with National Iranian South Oil Company (NISOC) and the Republic of…
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Efforts to help local people find work and benefit from their domestic industry are important to governments and to private companies in many oil and gas industry…
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In August 2015, the Italian super-major Eni made the largest gas discovery ever in the Mediterranean. For the third part of our series on the best projects of 2016, we…
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In the second part of our series highlighting the best companies, projects and people of 2016, we look at stand out projects in sour gas, offshore and vertically…
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The Oil & Gas Year covers the international oil and gas industry from the field by interviewing oil industry executives in their markets. During a project, TOGY…
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