The Oil & Gas Year - Abu Dhabi 2017
The Oil & Gas Year Abu Dhabi 2017, produced in partnership with Abu Dhabi National Oil Company (ADNOC) and co-published with the UAE Ministry of Energy, covers the latest and ongoing developments in Abu Dhabi’s oil and gas industry. The report features the emirate’s efforts to reach its 3.5-million-bopd production capacity target and will present the latest changes and updated strategy of the ministry and ADNOC, its consolidations and structural changes in its pursuit of making the industry more streamlined and efficient.
2017 saw ADNOC look to attract partners and investors to the market with the successful IPO of ADNOC Distribution, as well as Abu Dhabi Crude Oil Pipeline's USD 3-billion bond. New investors, including Japanese, Indian and Chinese companies, are vying for a stake in ADNOC Offshore, following the addition of Asian partners in ADNOC Onshore.
Abu Dhabi is on the road to reaching 3.5 million bopd by the end of 2018, with an aim to maintain that level for 25 years. The powerhouse and custodian of the local oil and gas industry, ADNOC will achieve the target by increasing offshore production at Umm Shaif and the Upper and Lower Zakum oilfields to 1 million bopd from their current output of 650,000 bopd. For better management, ADNOC is merging both offshore subsidiaries into ADNOC Offshore, with the process set to be complete in Q1 2018. Additionally, 200,000 bopd will be added by ADNOC Onshore.
Gas and downstream investments also continue as ADNOC aims to meet expected demand by doubling the emirate's production of petrochemicals by 2030 through new projects focused on petrol refining, aromatics production and additional polyolefin capacity.
The 2017 edition focuses on the ongoing changes at ADNOC and its subsidiaries, with interviews from key leaders in the NOC, including ADNOC CEO Dr. Sultan Ahmed Al Jaber and the CEOs of ADNOC Offshore and ADNOC Onshore. Frontrunners in the private sector such as BP UAE’s general manager, Salem Ashoor, and Total Abu Dhabi’s president, Hatem Nuseibeh, also share their thoughts on the market. The maps and infographics include an updated ADNOC organigram, a pull-out map of the emirate’s oil and gas infrastructure and fields, and an infographic illustrating ADNOC’s hydrocarbons destinations.
The Oil & Gas Year Abu Dhabi 2017 includes a special chapter on efficiency, technology and green energy in which major players share their strategies to work through the industry downturn by investing in technologies to reduce expenses and increase their profit margins. TOGY also outlines the government’s push for greater efficiency and clean energy through its Energy Strategy for 2050 and ADNOC’s efforts to streamline operations at its subsidiaries.
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