Energy
From The Report: Ras Al Khaimah 2015
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The energy mix in RAK is currently led by government-owned operators RAK Petroleum and RAK Gas, both of which are involved in exploration and operation activities internationally. The fall in global oil prices in mid-2014 is already being felt in RAK, with RAK Petroleum recording its first year of losses since 2007 in 2014. Despite this, falling oil prices are set to benefit RAK Gas’s major industrial customers and should improve the availability of affordable fuel necessary for ongoing industrial expansion. With population and business growth set to boost demand for energy in the emirate, the government has started pursuing renewable power options, with a number of international players putting forward bids for tenders to build desalinisation plants and develop renewable power capacity in the emirate.

This chapter contains an interview with Richard Menezes, Managing Director, UTICO.

Articles from this Chapter

Overview

In high gear: A variety of new projects and opportunities are set to be switched on
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With little in the way of hydrocarbons reserves and limited domestic exploration under way, Ras Al Khaimah’s energy sector has expanded on the back of its two major upstream players: RAK Gas and RAK Petroleum. The two firms each have interests in international exploration and production (E&P), and have undertaken efforts to improve domestic power supply through private sector investment and the development of renewable energy. The late-2014 plunge in oil prices is set to have a mixed effect…

Interview

Keeping alternatives open: OBG talks to Richard Menezes, Managing Director, UTICO
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Interview:Richard Menezes Given Ras Al Khaimah’s energy mix, how can concerns about industrial utilities be addressed? RICHARD MENEZES: The present energy mix in RAK consists of natural gas, which is supplied by RAK Gas through its sourcing from fields it owns and operates in the UAE, as well as supplies from Bukha in Oman and from Dolphin Energy of Qatar. RAK is presently developing its own fields in the emirate and is also considering setting up a liquefied natural gas terminal in the…

Analysis

Far and wide: The emirate’s main players are looking abroad for promising opportunities
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The emirate’s two upstream oil and gas exploration and production (E&P) companies, RAK Petroleum and RAK Gas, have both been active in overseas exploration activities in recent years. RAK Petroleum maintains indirect investments across eight countries in the MENA region, while RAK Gas has expanded its international portfolio via new exploration in Malawi and Somaliland. Although falling global oil prices have dimmed near-term estimates, a growing and well-diversified international portfolio…

Analysis

The more the better: Population and economic growth underline the need for water
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With a growing population and rising water consumption, investment in new water production facilities over the previous decade has been a priority for Ras Al Khaimah. The Federal Authority for Electricity and Water (FEWA) has made major strides in meeting RAK’s rising demand, most recently when it inaugurated the new Ghalilah desalination plant in 2015 and started new desal units of 8m imperial gallons per day (MIGD), laying more than 90 km of new transmission and distribution networks. While declining…