In search of an answer to the question of what is produced in the United Arab Emirates, the first thing that comes to mind is that the state is one of the ten largest oil producers in the world.
About 96% of the country’s approximately 100 billion barrels of oil reserves are located in Abu Dhabi, making the emirate the sixth largest in the world. The UAE produces an average of 3.2 million barrels of oil per day.
Hydrocarbons continue to play a critical role in the UAE economy, with 30% of the UAE’s GDP directly dependent on the oil and gas industry and 13% of its exports. While many are considering buying a villa in the United Arab Emirates and are considering real estate first, the UAE continues to rely heavily on oil and gas export profits, which provide the vast majority of UAE government revenue. It is the first Arab state to set a net zero emission target.
Many people want to buy property in the United Arab Emirates, as the country has set many records – it has become the first state with a high-speed zip-line, the largest Ferris wheel, the most gigantic building and more. Abu Dhabi National Oil Company (ADNOC) is a global leader in the oil and gas industry, operating across all sectors of the industry. ADNOC wants to reach 5 million barrels of maximum sustainable production capacity by 2030. ADNOC regularly attracts new US suppliers.
The UAE is committed to developing unconventional oil and gas production. The Energy News Agency cites data showing that the UAE has the seventh largest natural gas reserves in the world at more than 215 trillion cubic feet. In 2020, the UAE announced the discovery of over 80 trillion cubic feet of gas resources in Jebel Ali. The country aims to become self-sufficient in gas supplies by 2030. The UAE currently imports natural gas from Qatar via the Dolphin pipeline to power power plants and desalination plants.
Everyone knows what the United Arab Emirates produces today. But the future is not far off. UAE exploration projects will create opportunities for new projects. UAE producers continue to test and implement new mining technologies to improve recovery rates and extend production. Unconventional oil and gas resources are of great interest to the UAE. The Ruwais Derivatives Park in Abu Dhabi is a major project that will become an industrial hub for the chemical derivatives sector. The park is located in the long-standing refining and petrochemical cluster in Ruwais and is expected to become the world’s largest integrated refining and petrochemical complex.