Energy
From The Report: Abu Dhabi 2020
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Home to approximately 95% of the UAE’s total oil reserves and 92% of its natural gas, Abu Dhabi is one of the world’s leading hydrocarbons producers. The main player in Abu Dhabi’s oil and gas industry is Abu Dhabi National Oil Company (ADNOC), the largest company in both the emirate and the UAE. While the global Covid-19 pandemic and subsequent steep decline in international oil prices present challenges for the industry, the fundamentals underpinning the emirate’s energy sector remain strong. ADNOC doubled its refinery throughput between 2008 and 2018, and aims to raise oil production to 5m barrels per day by 2030. At the same time, Abu Dhabi is working to achieve self-sufficiency in natural gas, while also meeting a larger proportion of its domestic energy needs through renewables and nuclear power. This chapter contains a viewpoint with Sultan Al Jaber, UAE Minister of State; and Group CEO, Abu Dhabi National Oil Company; and Mohamed Al Hammadi, CEO, Emirates Nuclear Energy Corporation.

Articles from this Chapter

Overview

Tapping assets: New discoveries and international partnerships help the emirate move closer to achieving ambitious production targets
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Home to approximately 95% of the UAE’s total oil reserves and 92% of its natural gas, Abu Dhabi is one of the world’s leading hydrocarbons producers and its energy sector is among the most developed. The main player in Abu Dhabi’s oil and gas industry is Abu Dhabi National Oil Company (ADNOC), the largest company in both the emirate and the UAE. While the global Covid-19 pandemic and subsequent steep decline in international oil prices that began in mid-February 2020 present challenges…

Viewpoint

Cautious confidence: Sultan Al Jaber, UAE Minister of Industry and Advanced Technology; and Group CEO, Abu Dhabi National Oil Company (ADNOC), on resilience to external shocks as economies reopen
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Viewpoint:Sultan Al Jaber Today’s challenging economic landscape has highlighted the attractiveness of the UAE’s safe, reliable and stable business environment. Completing large and complex transactions in a complicated economic and business environment like the one we are all experiencing only demonstrates the continued confidence of the global investment community in the UAE as an investment destination. In this context, the $20.7bn gas pipeline deal announced in late June 2020 highlights…

Analysis

Next generation: The Oil & Gas 4.0 programme aims to utilise new technology and attract skilled graduates
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While the emirate continues to look for ways to increase the value of its onshore and offshore deposits, Abu Dhabi National Oil Company (ADNOC) is also reassessing its role in a changing global economy. The idea that some parts of the world are already experiencing a Fourth Industrial Revolution (4IR), in which artificial intelligence (AI), blockchain and big data will transform and enhance the business environment, inspired ADNOC to develop a new strategy through which to bring the industry…

Analysis

New prospects: Abu Dhabi National Oil Company concludes two bidding rounds in its first-ever competitive exploration tenders
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Oil and gas exploration in Abu Dhabi entered a new phase since 2018 as energy companies from North America, Europe and Asia competed in two rounds of bidding for licences to drill and develop onshore and offshore concessions. The use of competitive bidding rounds constitutes a new strategy for Abu Dhabi National Oil Company (ADNOC), as well as a new opportunity for firms participating in the tendering process. Under the new block licensing model, winning bidders are offered an exploration…

Interview

Best practices: Mohamed Al Hammadi, CEO, Emirates Nuclear Energy Corporation (ENEC), on developing and nurturing a modern nuclear safety culture
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Interview:Mohamed Al Hammadi In what ways is ENEC working to ensure reliable operational expertise to safeguard the long-term benefits of the Barakah Nuclear Energy Plant? MOHAMED AL HAMMADI: One of the key objectives of the UAE Peaceful Nuclear Energy Programme is to ensure the development of high-value careers for UAE nationals in this new industrial sector – a goal that stands to benefit the country. From the inception of the programme, we have focused on capacity building to ensure…

Analysis

Strategic benefit: Investing in unconventional natural gas resources to reduce reliance on imports and boost industrial development
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Although much of Abu Dhabi’s wealth may have been built on the sales of its crude oil and refined products, Abu Dhabi National Oil Company (ADNOC) is placing a growing emphasis on the emirate’s reserves of natural gas, some of which are sour or ultra-sour. ADNOC Sour Gas plans to increase production capacity to 1.45bn standard cu feet (scf) per day by 2022. In order to meet this goal, in November 2018 the company announced the launch of an integrated gas strategy to direct the development…

Analysis

Cluster of activity: With expansion of its petrochemicals complex, Ruwais is set to become a global centre for downstream industry
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The town of Ruwais is located around 240 km west of Abu Dhabi City and is poised to experience rapid growth as Abu Dhabi National Oil Company (ADNOC) plans to inject some Dh165bn ($44.9bn) into its downstream industry, an investment that represents more than 40% of the company’s capital expenditure budget. ADNOC is aiming to ultimately transform Ruwais into the world’s largest integrated refinery and petrochemicals complex. Imminent Transformation The effects of further development…

Analysis

Nuclear vision: The UAE’s first nuclear energy plant is to begin operations in 2020
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Abu Dhabi’s energy sector is poised for transformation in 2020 with the anticipated commissioning of the first nuclear energy plant in the Arab world. The Barakah Nuclear Energy Plant consists of four 1400-MW nuclear reactors and is located in the Al Dhafra Region of the emirate. Upon completion, the four units of the Barakah plant will generate up to 25% of the UAE’s electricity by safely producing 5600 MW of zero-emission electricity at a constant rate. The Ministry of Energy and Industry…