One of the top ten oil producers in the world is the United Arab Emirates (UAE). Approximately 96% of the nation’s estimated 100 billion barrels of known oil reserves are situated in Abu Dhabi, which is ranked sixth in the world. A daily average of 3.2 million barrels of liquid and petroleum are produced in the UAE. The UAE economy continues to be heavily dependent on hydrocarbons, with 13% of exports and 30% of GDP coming directly from the oil and gas sector. Oil and gas export revenues, which make up the vast majority of the UAE government’s income, are still an important source of income for the country. As the first Arab nation to adopt a “net-zero” emissions target, the UAE has prioritised the energy transformation. 

A global leader in the oil and gas business, Abu Dhabi National Oil Company (ADNOC) operates in all areas of the sector. By 2030, ADNOC hopes to have a maximum sustainable production capacity of 5 million barrels. ADNOC frequently contracts with new American suppliers. Suppliers must register as a supplier with ADNOC in order to bid on ADNOC opportunities. 

The UAE wants to increase production of unconventional oil and gas. According to data cited by the U.S. Energy Information Agency, the UAE is believed to have the seventh-largest proven natural gas reserves in the world, totaling more than 215 trillion cubic feet. The finding of more than 80 trillion cubic feet of gas reserves at Jebel Ali was declared by the UAE in 2020.