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.
READ MORE
ADNOC will take a 35% equity stake in ExxonMobil's low-carbon hydrogen project in Baytown, Texas.
READ MORE
ADNOC is deploying an in-house AI-enabled process optimisation technology across its operations.
READ MORE
ADNOC Drilling has won a $733-million contract to supply three island rigs for the Zakum oilfield offshore Abu Dhabi.
READ MORE
ADNOC has reached a FID on the Ruwais LNG project and awarded USD 5.5 billion in EPC contracts.
READ MORE
Azerbaijan's SOCAR has acquired a 3% stake in the SARB and Umm Lulu concession offshore Abu Dhabi from ADNOC.
READ MORE
Alexandre Eykerman of Wärtsilä talks about the company’s pioneering role in adapting its solutions to the energy transition.
READ MORE
Yasser Zaghloul, group CEO of National Marine Dredging Group (NMDC Group), talks to The Energy Year about the company’s trajectory in the energy industry and the…
READ MORE
The past 10 years, and particularly the last two, have seen rapid and substantive movement from the UAE government towards establishing the country’s place in a more…
READ MORE
Mothana Bahjeat Qteishat, Jinko Power Technology Company’s vice-president and head of international tenders, talks to The Energy Year about factors attracting…
READ MORE
Ahmed Baghoum, CEO of Masdar City, talks to The Energy Year about how the city serves as a model for future cities worldwide and how it is fostering innovation in…
READ MORE
Francesco La Camera, director-general of the International Renewable Energy Agency (IRENA), talks to The Energy Year about global trends in the energy transition and…
READ MORE
Hosted in Abu Dhabi by ADNOC, and taking place from 2-5 October 2023, ADIPEC is an international platform convening global energy producers, consumers and innovators to…
READ MORE
Abdulrahman Abdulla Alseiari, CEO of ADNOC Drilling, talks to The Energy Year about the company’s contribution to the UAE’s 5-million-bopd goal, the impact of the…
READ MORE
Majid Jafar, CEO of Crescent Petroleum, talks to The Energy Year about energy’s key role in socioeconomic development, the company’s transformative work in Iraq and…
READ MORE
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 MORE
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 MOREWHOSE PLATFORM IS THIS?
ASK US
