WITH the world’s seventh largest proven crude oil reserves, the UAE’s oil exports now account for about 25 percent of the country’s gross domestic product.
The UAE has both onshore and offshore oil reserves, which are operated under concessions.
ADNOC and its 15 subsidiaries manage the oil and gas supply chain.
The Upper Zakum offshore oil field is in the process of a large expansion project.
Refinery projects continue to see investment as the lower oil prices encourage the market to get smarter and more efficient.
This is where the UK supply chain can really stand out and differentiate themselves having gone through an efficiency drive and the introduction of disruptive and game-changing technologies.
As the market develops and the government seeks to diversify the economy, it really is accelerating the development of additional hydrocarbon reserves, plus developing and implementing new alternative energy sources.
The UAE must also be congratulated in the way it is working to reduce its carbon footprint, meet its own domestic energy needs and expand exports at the same time.
Take Masdar (owned by the Abu Dhabi Government) as an example, the world’s largest and most comprehensive alternative energy programme.
Their mission is to advance renewable energy and sustainable technologies through education, research and development, investment, commercialisation and adaptation.
Through smart investments, Masdar City is successfully pioneering a “greenprint” for how cities can accommodate rapid urbanisation and dramatically reduce energy, water and waste.
This is a forward-thinking, dynamic nation looking at ground-breaking programmes and initiatives.
The Abu Dhabi 2030 Strategic Plan seeks to enhance non-oil revenues.
Like the UK, the theme of Energy a Balanced Future is so very relevant in order to create a sustainable future and power the economy going forward.
Take nuclear, the first of four nuclear reactors are due to commence operations in 2017, with the remaining three scheduled by 2020.
The reactors are being built by KEPCO. This is the first nuclear power in the UAE with local stakeholders:
- Federal Authority for Nuclear Regulation (FANR)
- Emirates Nuclear Energy Corporation
- Khalifa University who are training nuclear engineers
As these plants are commissioned, there are likely to be numerous supply chain opportunities and undoubtedly the UK has a strong nuclear supply chain with decades of experience from new build through to decommissioning.
The renewable energy market in the UAE is also growing rapidly with public targets set and local businesses participating actively in this evolvement.
One development is building the world’s largest solar energy plant.
The government is also keen to welcome foreign investors and has taken many steps to create an open market environment that makes the UAE an attractive investment proposition.
NOF Energy is proud to announce that it is taking its flagship conference and Exhibition “Energy a Balanced Future” to the UAE from 27-28 September 2016.
There will be presenters from both the UAE and UK covering oil and gas, nuclear and renewables.
In addition there will be an exhibition area that will allow companies to really showcase their products and services plus there are one to one sessions with both buyers and UAE companies who are keen to partner with the UK supply chain.
Working in partnership with both UK Trade & Investment and BBG (British Business Group) this is going to be a fantastic networking event.
Why not come along and see if the UAE could hold opportunities across the energy sector for your business.