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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ADNOC has put down a budget of USD 150 billion for the next five years to pursue having net zero carbon emissions by 2050 and upping its production capacity to 5…
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Keppel Offshore & Marine has delivered the first of three jackup rigs to ADNOC Drilling in a USD 352-million deal, the offshore mobile platform supplier announced on…
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ADNOC has signed agreements with 25 companies potentially worth USD $9.5 billion to stimulate local manufacturing and diversification of the UAE’s industry, the…
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The US and Emirati governments have signed a strategic partnership meant to spur USD 100 billion in investments in clean energy, targeting 100 GW of capacity by…
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OMV has signed an MoU with ADNOC to explore LNG deliveries from the UAE to Austria, the Austrian integrated oil and gas company announced on Thursday.
The initial…
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Abu Dhabi National Energy Company (TAQA) has targeted a 25% reduction in greenhouse gas emissions by 2030 from 2019 levels, the state-owned integrated energy company…
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ADNOC has awarded a USD 1.5-million drilling contract to ADNOC Drilling to expand the UAE’s offshore production capacity, the Emirati NOC announced on Monday.
The…
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ADNOC Drilling Company has signed a USD 140-million purchase and sale agreement for two jackup rigs as part of its fleet expansion plans, the Emirati drilling giant…
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ADNOC and partners have financially closed a USD 3.8-billion agreement to build the MENA region’s first-of-its-kind subsea transmission network, the Emirati NOC…
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ADNOC has awarded framework agreements worth USD 1.83 billion to five companies for drilling services, the Emirati NOC announced on Wednesday.
Five-year contracts…
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