UAE | EICTV

EIC Country Report

UAE

November 2022

Authored by


  • Wan Afiq Naqiuddin Bin Wan Mohd Syukri

    Energy Analyst – All sectors (Middle East & North Africa), EIC

In 2021, the UAE is ranked fifth for proven oil reserves globally, and fourth in the Middle East, with 111 billion oil reserves. It also ranked seventh in the world for proved gas reserves, with 8.2 trillion cubic metres (Tcm). Some of the newly discovered fields are offshore Block 2 concession, onshore Block 3 concession and onshore Block 4 concession.

The country’s 2021 oil production capacity is 3.668 million b/d. ADNOC has also planned to boost its oil production capacity from 4 million b/d to 5 million b/d by 2030 but has recently moved the target ahead to 2025.

Learn more about the state of play in the UAE's oil and gas, power and renewables sectors, as well as information on who the key players are in each sector and advice on doing business in the country.

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