Market Size of UAE Oil And Gas Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 8.40 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
UAE Oil and Gas Market Analysis
The UAE oil And gas market size is expected to grow from 3,300 thousand barrels per day by the end of this year 3 to 4,939.24 thousand barrels after five years, at a CAGR of 8.40% during the forecast period.
- Over the medium term, factors such as increasing investment in the upstream sector coupled with supportive government policies are expected to drive the market's growth during the forecast period.
- On the other hand, the plans to diversify the power generation mix by introducing renewable energy sources are expected to hinder the market's growth during the forecast period.
- Nevertheless, the increasing demand for LNG in the country leads to the integration of smart technologies in the existing LNG infrastructure, creating ample opportunities for the market players during the forecast period.
UAE Oil and Gas Industry Segmentation
Oil and natural gas are major industries in the energy market and play an influential role in the global economy as the world's primary fuel source.
The United Arab Emirates oil and gas market is segmented by sector. By sector, the market is segmented by type into upstream, midstream, and downstream. The report offers the market size and forecasts in volume (thousand barrels per day) for the above segments.
UAE Oil And Gas Market Size Summary
The oil and gas sector in the United Arab Emirates is poised for significant growth over the forecast period, driven by increased investments in the upstream segment and supportive government policies. The upstream sector is expected to dominate the market due to substantial investments in exploration and production activities, particularly in Abu Dhabi, which holds the majority of the country's hydrocarbon reserves. The UAE's strategic focus on enhancing oil recovery techniques and expanding field projects is set to bolster its position as a leading crude oil producer within the Organization of the Petroleum Exporting Countries. However, the country's efforts to diversify its energy mix by incorporating renewable energy sources may pose challenges to the market's growth trajectory.
The UAE's oil and gas industry is a critical component of its economy, contributing significantly to national revenue and facilitating global trade through its extensive infrastructure. The sector's growth is further supported by ambitious plans to enhance midstream and downstream capabilities, with significant investments announced by the Abu Dhabi National Oil Company. Key projects, such as the Fujairah LNG Export Terminal and the Jebel Ali Gas Reservoir Project, underscore the country's commitment to expanding its hydrocarbon export capacity. Despite the moderately fragmented market landscape, with major players like ADNOC, Exxon Mobil, and BP PLC, the UAE's strategic investments and projects are expected to drive the oil and gas market forward, ensuring its continued relevance in the global energy landscape.
UAE Oil And Gas Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Oil and Gas Reserves in the United Arab Emirates, till 2022
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1.3 Crude Oil Production and Consumption Forecast in thousand barrels per day, till 2028
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1.4 Natural Gas Production and Consumption Forecast in billion cubic feet per day, till 2028
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1.5 Recent Trends and Developments
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1.6 Government Policies and Regulations
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1.7 Market Dynamics
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1.7.1 Drivers
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1.7.1.1 Increasing Investment in the Upstream Sector
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1.7.1.2 Supportive Government Policies
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1.7.2 Restraints
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1.7.2.1 Increasing Demand to Diversify the Power Generation Mix by Introducing Renewable Energy Sources
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1.8 Supply Chain Analysis
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1.9 PESTLE Analysis
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2. MARKET SEGMENTATION - BY SECTOR
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2.1 Upstream
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2.2 Midstream
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2.3 Downstream
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UAE Oil And Gas Market Size FAQs
What is the current UAE Oil And Gas Market size?
The UAE Oil And Gas Market is projected to register a CAGR of 8.40% during the forecast period (2024-2029)
Who are the key players in UAE Oil And Gas Market?
TotalEnergies SE, BP PLC, Exxon Mobil Corporation, Abu Dhabi National Oil Company (ADNOC) and Emirates National Oil Company Group are the major companies operating in the UAE Oil And Gas Market.
