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 Drilling Company has signed a USD 70-million sale and purchase agreement for an offshore jackup rig as part of the country’s goal to raise oil production…
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Seadrill has been awarded contract extensions for its three offshore rigs by Emirati NOC Saudi Aramco for work on the Arabian Gulf, the deepwater drilling contractor…
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ADNOC Drilling has signed a sale and purchase agreement with Well Target Five and Well Target Six for two jackup rigs, the national drilling company announced on…
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Worley has signed a contract with Borouge 4 to provide project management consultancy for the fourth expansion of its integrated polyolefins complex in Ruwais, UAE, the…
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ADNOC and Emirati renewables company Masdar have signed strategic partnerships with BP for development of hydrogen related projects in the UK and the UAE, the Emirati…
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Houston-based engineering company McDermott has been chosen by Abu Dhabi National Oil Company (ADNOC) to perform FEED works on the Fujairah LNG project in the UAE, the…
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Schlumberger has signed a contract with Emeriti NOC Saudi Aramco for integrated drilling and well construction services on a gas drilling project, the American…
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Abu Dhabi National Oil Company has awarded a USD 227-million contract to local EPC and infrastructure contractor Robt.Stone for EOR works on its onshore Bab field, the…
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Saudi Aramco has sold a 49% stake in subsidiary Aramco Gas Pipelines Company for USD 15.5 billion to an international consortium, the Saudi NOC announced on…
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ADNOC has signed framework agreements worth USD 1.94 billion for drilling equipment and services on plays in the UAE, the Emirati NOC announced on Thursday.
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