The United Arab Emirates (UAE) currently has an oil production capacity of just over 4 million barrels per day (bpd). The UAE has the sixth-largest crude oil reserves in the world, with approx. 98 billion barrels at present.
The energy sector continues to play an important role in shaping the UAE's internal and external policies. Since the discovery of oil and gas more than half a century ago, the UAE became a central player in global energy market.
While oil and gas have historically been the dominant fuels powering the UAE's economy, the UAE's energy sector is undergoing a transformation targeting the diversification of the UAE's energy mix. The UAE Energy Strategy 2050 targets an energy mix that combines renewable, nuclear and clean energy sources to meet the UAE’s economic requirements and environmental goals as follows:-
• 44% clean energy
• 38% gas
• 12% clean coal
• 6% nuclear
The UAE government aims to invest AED 600 billion by 2050 to meet the growing energy demand and ensure a sustainable growth for the country’s economy. In order to support this the UAE is looking to add more renewable capacity to meet power needs. Dubai aims to generate 25% of its energy requirements from renewable sources by 2030 and 75% by 2050 as part of its clean energy drive. Abu Dhabi, the hydrocarbons centre of the UAE, is looking to generate half of its power requirements from clean sources by 2030.
Now in its 10th year EIC Connect – Clean Energy UAE 2021 will bring together leading national operators, EPC contractors, developers and OEMs to learn about opportunities across the entire energy sector in the UAE.
Who should attend