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risorse minerarieThe UAE is the world's seventh producer of both oil and natural gas. They alone have an estimated reserve of 97 billion barrels, which about 94% is in the Emirate of Abu Dhabi.

Most of the oil and gas sector is controlled by the state Abu Dhabi National Oil Company, in collaboration with some big international oil companies on long-term concessions.

The best extraction techniques employed allow to maintain significant levels of extraction from fields throughout the Country: over the last decade proven reserves in Abu Dhabi have been almost doubled.

All this oil is mostly exported and the UAE are going to go on targeting their commercial viability BUSINESS IN UAE- on this resource, even though, thanks to a far-sighted policy of diversification of their economy, "oil & gas” field takes part in forming the Gross Domestic Product (GDP) but it gets to be less than the service one.

In addition to their vast oil reserves, the UAE also have over 210 thousand cubic feet of proven reserves of natural gas. Nevertheless, the Country is a gas importer. The reasons are mainly attributable to two factors:

  • Nearly 30% of the natural gas produced in recent years has been re-employed in existing fields as part of enhancing oil recovery techniques.
  • The inefficient and rapid expansion of the power grid of the Country, due to the strong economic and population growth in recent decades, which is based on natural gas to feed and forced the UAE to import from its neighboring Qatar.

As you can well imagine the economy of the UAE highly depends on energy resources. Therefore local Authorities are planning to diversify the various branches of tourism, trade and manufacturing output. A first example is given by the city of Abu Dhabi in recent years has optimized its resources in oil and gas adopting a multiannual plan, "Vision 2030", aimed to raise up to 64% the share of GDP generated by "non-oil" (currently 36%), this means new opportunities in Dubai, new opportunities in Abu Dhabi and creasing of business in UAE as well.

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