The Oil & Gas Year Abu Dhabi 2016
2015 was a landmark year for Abu Dhabi, with the emirate ushering in new partners for one of ADNOC’s leading subsidiaries, committing to substantial offshore investment and commissioning new sources of gas for the UAE, while also embarking on progressive policy changes designed to improve the UAE’s resource management capabilities.
The Oil & Gas Year Abu Dhabi 2016 reports explores the major offshore investment programmes underway by Zakum Development Company and Abu Dhabi Marine Operating Company, each looking to increase their production to 750,000 barrels of oil per day (bopd) and 1 million bopd respectively over the next few years. With these increases, it will see offshore production contribute to more to Abu Dhabi’s total than onshore production for the first time.
Onshore, Abu Dhabi Company for Onshore Petroleum Operations (ADCO) signed historic deals for its concession areas, entering into 45-year production agreements with three international players. In the report, TOGY talks with Total – who signed for a 10 percent stake in ADOC in January 2015 - about their expectations for the deal and what it means to their global portfolio.
The Oil & Gas Year Abu Dhabi 2016 edition features interviews with leading figures in the industry including Minister of Energy UAE H.E. Suhail Mohamed Faraj Al Mazrouei, CEO of Abu Dhabi Marine Operating Company, Mr. Ali Rashid Al-Jarwan and OPEC Secretary General, H.E. Abdalla Salem El-Badri.
This edition also features a special chapter outlining the Ministry of Energy’s 2015 policy reform on energy subsidies for the transportation sector in the UAE. TOGY expands on the Ministry’s objective to reduce fuel consumption and inspire a culture of energy conservation with a view to protect its resources for future generations.