Energy
From The Report: Abu Dhabi 2013
View in Online Reader

A string of investments in both conventional and alternative resources is ensuring that Abu Dhabi sits at the very centre of the global energy map. The UAE increased production by approximately 14.2% during 2011 to 3m bpd of crude and condensate, faster than any other country in the GCC region. Yet despite vast reserves promising more than 80 years of production at current rates and conditions, and with some 93% of the UAE’s natural gas reserves located in Abu Dhabi, the government is nevertheless keen to develop the latest in enhanced oil recovery technologies to maximise its onshore and offshore assets. Additionally, the government aims to draw 7% of the emirate’s total generation capacity from renewable sources by 2020, a target that surpasses those of all neighbouring Gulf countries and which is expected to keep up the pressure for large investments in utility-scale projects over the coming years. This chapter includes interviews with Abdulla Nasser Al Suwaidi, Director-General, Abu Dhabi National Oil Company (ADNOC); and Mohamed Al Hammadi, CEO, Emirates Nuclear Energy Corporation (ENEC). It also features a viewpoint with Sultan Al Jaber, CEO, Masdar.

Articles from this Chapter

Overview

Room for more: Numerous projects on multiple fronts are energising the sector
OBG
plus

A string of investments in both conventional and alternative resources is ensuring that Abu Dhabi sits at the very centre of the global energy map. With vast reserves still promising more than 80 years of production at current rates and conditions, the government is nevertheless keen to develop the latest in enhanced oil recovery (EOR) to maximise its onshore and offshore assets. At the same time, it is prioritising a rapid increase in the production of sizeable gas fields to meet a looming supply…

Analysis

Adding projects: Rising investment levels carry the industry forward
OBG
plus

A surge in planned spending on energy projects in Gulf nations has characterised 2012, and Abu Dhabi has been no exception to the trend. While precise estimates vary, there is a consensus among industry observers that the value of the engineering, procurement and construction (EPC) contracts in the emirate’s oil and gas sector is set to see a huge increase in 2012 over 2011 levels. According to data from Middle East Economic Digest (MEED), in 2011 $2.7bn worth of EPC contracts were signed…

Analysis

Big decisions: Retendering rounds can lead to greater sector efficiency
OBG
plus

With the 75-year concession agreements for Abu Dhabi’s onshore oil production set to expire in 2014, executives at oil and gas companies throughout the world will stay keenly attuned to the re-tendering process. Predicting the outcome will not be easy as the new tenders come at a time of unprecedented change in the global energy market. State-owned Abu Dhabi National Oil Company (ADNOC) announced in April 2012 that it is evaluating many proposals as it prepares the final list of bidders for…

Viewpoint

Sultan Al Jaber, CEO, Masdar, on the UAE’s future energy mix
OBG
plus

The world population is expected to reach 9bn by 2050, and future energy demand will put a tremendous strain on our limited natural resources. We must develop and deploy new energy sources while reducing the effects of climate change and environmental degradation. To this end, the UAE is making several major investments to create a bridge between today’s fossil fuel economy and an energy-diverse future. Sitting above the world’s seventh-largest proven oil reserves, the UAE made the strategic…

Analysis

Enhanced recovery: Getting more out of current reserves while reducing CO 2 emissions
OBG
plus

As high oil prices give policymakers greater flexibility to invest for the future, the government is likely to spend more money on supporting the development of enhanced oil recovery (EOR) in the years ahead. “The days of easy oil are over,” Mohamed Al Hamli, the oil minister for the UAE, said at the World Petroleum Congress in December 2011. “We are forced to go down the road of enhanced oil recovery.” In the UAE, where local demand for natural gas is surging, there is an added incentive…

Analysis

Getting to the gas: Rising demand requires new strategies for sourcing energy
OBG
plus

Some $20bn is being invested to tap deeper into Abu Dhabi’s large reserves of natural gas. Consumption is surging, however, and despite having significant reserves the emirate remains a gas importer. The pressures of demand are leading the government to seek new and innovative techniques for getting the gas it needs. “There are three stages of gas,” said John Barry, the country chair for Shell Abu Dhabi, told OBG. “At first it is viewed as a waste product that is flared. In the second…

Interview

OBG talks to Mohamed Al Hammadi, CEO, Emirates Nuclear Energy Corporation (ENEC)
OBG
plus

Interview: Mohamed Al Hammadi How environmentally sound and commercially competitive is nuclear energy compared to traditional hydrocarbons sources, specifically for the UAE? MOHAMED AL HAMMADI: Nuclear energy is a safe and clean industry which will provide economic, efficient and reliable electricity to the UAE. The UAE has long been reliant on fossil fuel-generated energy, so going forward nuclear power will diversify the UAE's energy portfolio for electricity generation and industrial development.…