The UAE is widely known for its rising economy, where the oil and gas industry plays an important role. The oil and gas contribute a huge part in the economic development of the UAE. The United Arab Emirates (UAE) is a country in the Middle-eastern part of the Asian continent. It is comprised of seven emirates – Abu Dhabi, Dubai, Sharjah, Ras Al-Khaima, Fujairah, Umm Al-Quwain, and Ajman. Abu Dhabi is the capital city of the country.
As with most countries of this area, oil and gas is a major contributor to the country’s economy. Close to 30% of the Gross Domestic Product (GDP) of the UAE comes from oil and gas. The first commercial oil discovery was made in 1958, in the Bab-2 well onshore, and at Umm Shaif offshore. The UAE joined the Organization of Petroleum Exporting Countries (OPEC) in 1967.
Ever since the discovery and commercial usage of the oil fields, the economic activities of the country have undergone a sea change. Traditional activities like pearl cultivation and fishery were replaced by oil and gas drilling and associated industries. And this economy has also raised the UAE’s per capita income substantially.
The UAE government has taken steps to bolster other economic activities as well, to reduce the exclusive dependence on oil and gas. The income generated from the export of petroleum products has been invested in other sectors like agriculture, tourism, the service sector, manufacturing, and the social sector. Oil and gas in the UAE have ensured that a holistic and well-rounded economy takes shape. It has also attracted a huge number of foreign investors of every shape and size.
Some facts and figures related to the sector, as in 2019:
- b/d (barrels per day)
- m. (cubic meters)
- b/cd (barrels per calendar day)
A huge network of pipelines has been laid all over the UAE. They connect the refineries, field setups, and port terminals with each other. This facilitates fast and easy transportation of the crude and finished products to the intended destination. Companies involved in gas production also make use of this pipeline.
A major part of the extracted oil and gas is exported. The UAE has global standard shipping ports that have the latest infrastructure in place. Oil tankers from here carry the petroleum to most areas of the world. Some of the major importers are Western Europe, the USA, India, South Korea, Japan, etc.
Natural Gas Production
One of the primary sources for electric energy production in today’s ear is the natural gas. During last few decades, the consumption of natural gas in the UAE has been on the rise. In fact, it has almost doubled in the last decade or so. Keeping pace with the demand growth, the government has stepped up the production and is also looking for more sources of natural gas.
Commercial extraction of natural gas involves a fairly high cost. However, since the demand is on the rise, production has also gone up. A strong network of pipelines and the presence of modern processing plants have facilitated the enhanced production and distribution. Apart from producing electrical energy, natural gas is also used to desalinate the water resources.
With so much of oil and gas reserves, there are many companies engaged in the exploration of these two commodities. Le’ts have a look to the top player.
List of Top Oil and Gas Companies in the UAE
1. Abu Dhabi National Oil Company (ADNOC)
This is one of the largest Oil companies in the UAE. Established in 1971, the state-owned ADNOC has been instrumental in the fruitful exploration of the country’s oil and gas reserves, and also provided a big thrust to the nation’s economy. It produces more than 2.5 million b/d. ADNOC has its presence across every functionality of the hydrocarbon value chain.
2. Gulf Petrochem
Gulf Petrochem began operations in 1998. It is based at Sharjah. It has consolidated itself as one of the major players in the oil and gas segment in the UAE. It takes care of major projects in this space across locations like Southeast Asia, India, Africa, and more. It is taking big strides to establish itself as a global player of repute in the hydrocarbon market.
3. Abu Dhabi National Energy Company (TAQA)
This is among the newer companies in the sector, having started operation in 2005. The Abu Dhabi government owns it. In this short time, it has made a name for itself as one of the primary operators in the area of oil and gas exploration. It is also into power generation, water desalination, underground gas storage, etc.
4. Petrofac Intentional
For more than 30 years, Petrofac International has been a dominant player in the oil and gas sector in the UAE. Apart from exploration, this global major also provides services related to management, consultation, process and structural engineering, and more in the petrochemical domain.
5. Emirates National Oil Company (ENOC)
For more than 25 years, ENOC has been among the top companies in the oil and gas domain, operating from Dubai. This Dubai government-owned firm employs more than 9,000 people and is an active player in exploring, producing, refining, exporting, and retailing of petroleum resources. It also has a range of subsidiaries operating in various associate sectors.
GASCO is the abbreviated name for Abu Dhabi Gas Industries Ltd. It is in operation since 1978. It is a collaboration between ADNOC, Shell, Partex, and Total. GASCO has a big presence in the oil and gas exploration sector of the UAE.
7. Dana Gas
Established in 2005, Dana Gas is counted among the largest private oil and gas companies in the UAE. Apart from the Middle East, its focus areas are Africa and South Asia. The company produces more than 65,000 barrels of oil per day and is set to increase the capacity of several folds by a total overhaul of its production capacity.
8. Sharjah National Oil Corporation (SNOC)
The company was set up around 2010, basis a decree by the government. The Sharjah government owns the company. SNOC has a firm presence in the oil and gas exploration filed in the UAE.
9. Crescent Petroleum
This is another major private player in the oil and gas industry of the UAE, since 1971. It has a substantial presence in the sector and is one of the most reputed companies in the Emirate. Crescent Petroleum has a large shareholding in another private oil and gas firm, Dana Gas.
Emarat was established in 1981 by the UAE government. Today, it is among the top organizations into exploration, production, and marketing of petroleum, natural gas, LPG, lubricants, car wash, and lots more.
So, these are among the top oil and gas companies in the UAE. There are many other players as well. Together, all of them ensure significant contributions to the economy and job generation of the UAE.
List of Top 10 Oil and Gas Companies in UAE
|1||Abu Dhabi National Oil Company (ADNOC)||1971||Abu Dhabi, United Arab Emirates||https://www.adnoc.ae/|
|2||Gulf Petrochem||1998||Sitra, Kingdom of Bahrain||https://www.gpic.com/|
|3||Abu Dhabi National Energy Company (TAQA)||2005||Abu Dhabi, United Arab Emirates||https://www.taqa.com/|
|4||Petrofac International||1981||Saint Helier, Jersey||https://www.petrofac.com/|
|5||Emirates National Oil Company (ENOC)||1993||Dubai , UAE||https://www.enoc.com/en/|
|7||Dana Gas||2005||Sharjah, United Arab Emirates||https://www.danagas.com/|
|8||Sharjah National Oil Corporation (SNOC)||2010||Sharjah, United Arab Emirates||https://www.snoc.ae/|
|9||Crescent Petroleum||1971||Sharjah, United Arab Emirates||https://www.crescentpetroleum.com/|
|10||Emarat||1971||Dubai, United Arab Emirates||https://www.emarat.ae/
There are many players in Oil and Gas industry in UAE, the above list is prepared based on the research and information collected from reliable website. Whether you are planning to apply for a job in a leading Oil & Gas company or just wanted to know the best player,the above list will save your time and effort.