IOCS UAE
Firms from around the world are working in close collaboration with ADNOC to develop clever and sustainable practices to help the industry survive the lean years and more than thrive in the fat ones.
The changes in ADNOC's administration and the new vision of the Abu Dhabi government have made it clear that the country wants to rise to a different level. They have embarked upon a journey that will become the new benchmark for NOCs, where capability, technology, efficiency, and selectivity will become vital when it comes to building partnerships. The new mindset in ADNOC is to re-energize the entire industry and everyone is enthusiastic about keeping up in this fast-paced environment. For BP, this has made it easier to see how we can support ADNOC with our world-class technology and expertise, as well as contribute to Abu Dhabi's vision of a sustainable and highly profitable oil industry. We have been in the country from day one and have never wavered in our commitment. We are delighted with the ADCO deal that we recently signed—a 40-year concession with ADNOC that brings our partnership to a whole new level—through which we are building a new framework for partnerships between IOCs and NOCs that will transform the industry in the region.
Even though we were not the first IOC to sign a partnership contract with a national UAE company, we were the first at this specific time, which caught the attention of other multinationals. The oil and gas industry is going through a rough patch, and decisions take much longer to be made. However, Abu Dhabi is a pivotal market for us, and we wanted to show that regardless of the circumstances we are here to stay through thick and thin. Moreover, ADCO's estimations project that daily production will go from 1.6 million bpd to 2 million bpd, which is totally feasible and will further strengthen our position. The change in management of ADNOC has fundamentally changed the company's approach toward the industry. These changes range from its decision-making processes to the way its investments are carried out. My projection is that we will see more alignments between NOCs and IOCs and this will ease the path for both of us to work together.
2016 has been a wait-and-see-year for us in terms of concessions. Overall, the year was about restructuring in the oil and gas industry, and the recent appointments to ADNOC's leadership completely transformed the company's strategies, leading to an impressive series of changes that will spur growth in ADNOC. For Statoil, 2016 was about continuing with our ambitions for the UAE: adding value to Abu Dhabi and its oil production capacities. We continued to strengthen our partnership with Masdar, with which we have jointly developed a green wind partnership in the UK. We have also been working with The Petroleum Institute by helping to develop a new laboratory for R&D and enhanced oil recovery (EOR). We fully support ADNOC's prudent target of 70% EOR, which will be highly beneficial in the long run. One of the areas where Statoil can add value to Abu Dhabi is through this objective for increased oil recovery, since we have some of the highest recovery rates in the world.
In spite of the recent downturn in the oil and gas sector, Wintershall has remained positive, adjusting its strategy to remain efficient even during a period of volatility and tailoring its investment policy to achieve its strategic targets. For example, in November 2016 we launched the Shuwaihat project, a sour gas and condensate field that we want to develop into commercial production. After drilling one well and getting encouraging results, we are planning to continue, gathering enough data about the reservoir in order to go into development planning. As a way of cutting costs and improving efficiency, we decided not to use the normal logistics track for offshore drilling; instead, we signed a contract with Abu Dhabi Ports in 2016 to allow us to build a supply base at a small port in the area. This saves us USD10 million per well, about 10% of the total project cost. We hope to be able to deliver gas to Abu Dhabi through the Shuwaihat project by 2022.
INPEX/JODCO has been engaged in the exploration, development, and production of crude oil in Abu Dhabi in partnership with ADNOC for over 40 years. In April 2015, we acquired a 5% participation interest in the ADCO Onshore Concession, which further strengthened our ties with Abu Dhabi and ADNOC. We also have been contributing to Abu Dhabi's social infrastructure, including human resources development, education, and environmental protection. Over the 40-plus years we have operated here, we have made considerable technical contributions to the country and industry. Most recently, we announced our agreement in principle with ADNOC on the extension of the joint development of the Satah and Umm Al Dalkh offshore oil fields. Both oil fields have abundant reserves and have stably produced oil for many years based on a strong partnership between ADNOC and INPEX/JODCO. Moving forward, INPEX/JODCO will continue striving to strengthen its oil development and production activities in Abu Dhabi, as well as helping to further develop the strong relations between Abu Dhabi and Japan.
IOCS UAE
TABLE OF CONTENTS
Inside Perspective
Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister, UAE
Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, on the Smart Dubai Happiness Agenda, the standout projects over the last year, and the Year of Giving.
read articleProfile
Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Federal Supreme Council and Ruler , Sharjah
Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Federal Supreme Council and Ruler of Sharjah, has been instrumental in the growth and development of Sharjah, with his passion for academia a driving force in the growth of the knowledge economy.
read articleInside Perspective
Sheikh Saud Bin Saqr Al Qasimi, , Member of the Federal Supreme Council and Ruler , Ras Al Khaimah
Sheikh Saud Bin Saqr Al Qasimi, Member of the Federal Supreme Council and Ruler of Ras Al Khaimah, on what makes the Emirate such a great place to visit, do business, and invest.
read articleInterview
Sheikh Mohammed bin Saud bin Saqr Al Qasimi, Crown Prince, Ras Al Khaimah
TBY talks to Sheikh Mohammed bin Saud bin Saqr Al Qasimi, Crown Prince of Ras Al Khaimah, on the fundamentals behind the Emirate's strong growth and the work that goes into improving the economic outlook for the next generation.
read articleInterview
Christer Viktorsson, Directing General, Federal Authority for Nuclear Regulation (FANR)
TBY talks to Christer Viktorsson, Director General of the Federal Authority for Nuclear Regulation (FANR), on the role of the institution in advancing the nuclear energy regulatory environment, the Barakah Power Plant, and the importance of an integrated network.
read articleInterview
Saif Mohammed Al Suwaidi, Directing General, UAE General Civil Aviation Authority (GCAA)
TBY talks to Saif Mohammed Al Suwaidi, Director General of UAE General Civil Aviation Authority (GCAA), on opportunities in the sector and GCAA's contributions to the development of aviation in Abu Dhabi.
read articleInterview
Dr. Eng. Mohammed Nasser Al Ahbabi, Director General, UAE Space Agency
TBY talks to Dr. Eng. Mohammed Nasser Al Ahbabi, Director General of the UAE Space Agency, on the mandate of the agency, cooperating with international space agencies, and developing a solid private ecosystem.
read articleInterview
Mohammed Ahmed Bin Abdul Aziz Alshehhi, Undersecretary of the Ministry of Economy , UAE
TBY talks to Mohammed Ahmed Bin Abdul Aziz Alshehhi, Undersecretary of the Ministry of Economy of the UAE, on the value of creativity, the development of the industrial sector, and supporting SME development.
read articleInterview
Mansour Al Mansoori, Directing General, National Media Council (NMC)
TBY talks to Mansour Al Mansoori, Director General of the National Media Council (NMC), on the changing nature of media consumption in the UAE, developing local content, and improving literacy in the Emirates.
read articleInterview
Khalifa Bin Salem Al Mansouri, , Undersecretary of the Department , Economic Development – Abu Dhabi (ADDED)
TBY talks to Khalifa Bin Salem Al Mansouri, Undersecretary of the Department of Economic Development – Abu Dhabi (ADDED), on its plans to make the Emirate a better place to do business, the new industrial plan, and how it is fostering innovation.
read articleInterview
Khaldoon Khalifa Al Mubarak, Group CEO & Managing Director, Mubadala Investment Company
TBY talks to Khaldoon Khalifa Al Mubarak, Group CEO & Managing Director of Mubadala Investment Company, on how the merging of two key investment entities will drive Abu Dhabi's diversification strategy.
read articleInterview
Dr. Sultan Al Jaber, CEO, Abu Dhabi National Oil Company (ADNOC Group)
TBY talks to Dr. Sultan Al Jaber, CEO of Abu Dhabi National Oil Company (ADNOC Group), on the significance of ADNOC Distribution's listing on ADX, investing in downstream, and the importance of strategic partnerships.
read articleInterview
Maryam Eid AlMheiri, CEO, Media Zone Authority – Abu Dhabi & twofour54
TBY talks to Maryam Eid AlMheiri, CEO of the Media Zone Authority – Abu Dhabi & twofour54, on the growth and development of the Emirate as a media and film production hub, and the Emirati values she hopes to spread during the “Year of Zayed."
read articleColumn
Laurent A. Voivenel, Senior Vice President Operations and Development for the Middle East, India, and Africa, Swiss-Belhotel International
TBY talks to Laurent A. Voivenel, Senior Vice President Operations and Development for the Middle East, India, and Africa, Swiss-Belhotel International, on the sector.
read articleInterview
Hamad Buamim, President & CEO, Dubai Chamber of Commerce & Industry
TBY talks to Hamad Buamim, President & CEO of Dubai Chamber of Commerce & Industry, on boosting trade with Latin America, digitizing government services, and capitalizing on the China-Pakistan Economic Corridor.
read articleInterview
Sami Al Qamzi, Directing General, Department of Economic Development (DED)
TBY talks to Sami Al Qamzi, Director General of the Department of Economic Development (DED), on transforming Dubai into a smart economy, creating the happiest city in the world, and securing a knowledge-based economy for the future.
read articleFocus: Global reach of DP World
A Whole New World
The familiar strategy of strong centralized leadership coupled with copious capital reserves and an aggressive acquisition strategy has lead DP World to global recognition within two decades. Today, the company's global positioning can be used as a tool for developing infrastructure in high-growth markets for the larger benefit of UAE investment and trade.
read articleInterview
Sheikh Ahmed bin Saqr Al Qasimi, Chairman, Ras Al Khaimah Economic Zone (RAKEZ)
TBY talks to Sheikh Ahmed bin Saqr Al Qasimi, Chairman of Ras Al Khaimah Economic Zone (RAKEZ), on the establishment of the economic zone, the benefits of operating in the zone, and attracting international clients.
read articleInterview
Ramy Jallad, Group CEO , Ras Al Khaimah Economic Zone (RAKEZ)
TBY talks to Ramy Jallad, Group CEO of Ras Al Khaimah Economic Zone (RAKEZ), RAK Free Trade Zone (RAK FTZ), and RAK Investment Authority (RAKIA), on the Emirate's comfortable position within the GCC, increasing investment, and upcoming projects.
read articleInterview
Sheikha Bodour bint Sultan Al Qasimi, Chairperson , Sharjah Investment and Development Authority (Shurooq)
TBY talks to Sheikha Bodour bint Sultan Al Qasimi, Chairperson of Sharjah Investment and Development Authority (Shurooq), on the principles guiding Sharjah's economic development strategy, opportunities for private sector contribution, and the role of entrepreneurship in the Emirate.
read articleInterview
Sultan Abdullah bin Hadda Al Suwaidi, Chairman, Sharjah Economic Development Department (SEDD)
TBY talks to Sultan Abdullah bin Hadda Al Suwaidi, Chairman of the Sharjah Economic Development Department (SEDD), on attracting FDI and optimizing customer satisfaction to support Sharjah's economic growth.
read articleInterview
Sheikh Khalid bin Rashid Al Mua’lla, Chairman, UAQ FTZ
TBY talks to Sheikh Khalid bin Rashid Al Mua'lla, Chairman of UAQ FTZ, on enacting the most investor-friendly set up processes, providing the right world-class amenities for long-term growth, and serving as a great impetus for industrial diversification.
read articleInterview
Saeed Nasser Al Talay, Chairman, Umm Al Quwain Chamber of Commerce and Industry
TBY talks to Saeed Nasser Al Talay, Chairman of Umm Al Quwain Chamber of Commerce and Industry, on the biggest land investment opportunities, boosting investment in IT and construction, and on best PPP collaboration practices.
read articleInterview
Ali Eissa Alnuami, Directing General, Department of Economic Development-Ajman (DED-Ajman)
TBY talks to Ali Eissa Alnuami, Director General of the Department of Economic Development-Ajman (DED-Ajman), on increasing investor happiness, enhancing consumer rights, and treating foreigners like locals.
read articleFocus: Maritime Infrastructure
Big Impacts
The Ajman government is planning on building a new port in Al Zowra that will allow the Emirate to receive larger ships and handle a larger number of containers. The expected investment is AED2 billion (USD544 million) and is supposed to be complete by the third quarter of 2020.
read articleInterview
Dr. Thumbay Moideen, Founder & President, Thumbay
TBY talks to Dr. Thumbay Moideen, Founder & President of Thumbay, on helping build the Emirate's finest medical and educational facilities, expanding the medical tourism push from Africa, and making the right kind of generational impact.
read articleInterview
Mohammed O. Bin Majed Al Aleeli, Managing Director, Fujairah Department of Industry and Economy
TBY talks to Mohammed O. Bin Majed Al Aleeli, Managing Director of Fujairah Department of Industry and Economy, on supporting economic development, advancing oil transport services, and advising SMEs to draw attention to Fujairah.
read articleInterview
Khalid Mohammed Al Jassim, Directing General, Fujairah Chamber of Commerce and Industry
TBY talks to Khalid Mohammed Al Jassim, Director General of Fujairah Chamber of Commerce and Industry, on facilitation of domestic and foreign business relations, Fujairah's advantages as an emirate, and opportunities for diversification.
read articleInterview
Dr. Salem Abdu Khalil Mohamed Al Zyni,, Technical Advisor , Fujairah at Fujairah Oil Terminals
TBY talks to Dr. Salem Abdu Khalil Mohamed Al Zyni, Technical Advisor for the government of Fujairah at Fujairah Oil Terminals, on getting vessels to switch from offshore to onshore, the cyclical nature of the industry, and staying one step ahead of clients' needs.
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