Who are the key players in United Arab Emirates Oil And Gas Upstream Market?

TotalEnergies SE, BP PLC, Exxon Mobil Corporation, Emirates National Oil Company Group and Abu Dhabi National Oil Company (ADNOC), are the major companies operating in the United Arab Emirates Oil And Gas Upstream Market. Read More

What years does this United Arab Emirates Oil And Gas Upstream Market cover, and what was the market size in 2023?

In 2023, the United Arab Emirates Oil And Gas Upstream Market size was estimated at USD 8.81 billion. The report covers the United Arab Emirates Oil And Gas Upstream Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the United Arab Emirates Oil And Gas Upstream Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

United Arab Emirates Oil And Gas Upstream Market Size

Market Size of United Arab Emirates Oil And Gas Upstream Industry

United Arab Emirates Oil and Gas Upstream Market-Market Summary

Study Period	2020-2029
Base Year For Estimation	2023
Market Size (2024)	USD 9.29 Billion
Market Size (2029)	USD 12 Billion
CAGR (2024 - 2029)	5.20 %
Market Concentration	Medium
Major Players *Disclaimer: Major Players sorted in no particular order

UAE Oil and Gas Upstream Market Analysis

The United Arab Emirates Oil And Gas Upstream Market size is estimated at USD 9.29 billion in 2024, and is expected to reach USD 12 billion by 2029, growing at a CAGR of 5.20% during the forecast period (2024-2029).

Over the medium term, factors such as increasing natural gas production, increasing onshore exploration and production activities and rising oil and gas investments are expected to drive the United Arab Emirates oil and gas upstream market 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 growth of the United Arab Emirates oil and gas upstream market.
Nevertheless, the increasing demand for LNG in the country leads to the integration of smart technologies in the exploration of natural gas, creating an ample number of opportunities for the market players in the country.

UAE Oil and Gas Upstream Industry Segmentation

Upstream refers operations stages in the oil and gas industry that involve exploration and production. Oil and gas companies can generally be divided into three segments: upstream, midstream, and downstream. Upstream firms deal primarily with the exploration and initial production stages of the oil and gas industry.

The United Arab Emirates oil and gas upstream market is segmented by location of deployment. By location of deployment, the market is segmented into Onshore and Offshore. The report offers the market size and forecast on the basis of value for all the above segments.

Location of Deployment

Onshore

Overview
	Existing Projects
	Projects in Pipeline
	Upcoming Projects

Offshore

Overview
	Existing Projects
	Projects in Pipeline
	Upcoming Projects

Need A Different Region Or Segment?

Customize Now

United Arab Emirates Oil And Gas Upstream Market Size Summary

The United Arab Emirates (UAE) oil and gas upstream market is poised for growth, driven by increasing natural gas production, onshore exploration activities, and rising investments in the sector. The UAE, a significant player in the global oil industry, holds a substantial portion of its proven oil reserves in Abu Dhabi, making it a key contributor to the Middle East's oil production. The country's strategic initiatives, such as enhancing production from mature fields and investing in field expansion projects, are expected to bolster the market's growth. However, the shift towards renewable energy sources poses a challenge to the sector's expansion. Despite this, the demand for LNG and the integration of smart technologies in natural gas exploration present lucrative opportunities for market participants.

Abu Dhabi National Oil Company (ADNOC) plays a pivotal role in the UAE's oil and gas sector, with plans to increase upstream crude production through new exploration and production agreements. The company's significant capital expenditure plans and its In Country Value programme aim to drive economic growth within the UAE. The oil and gas sector remains a cornerstone of the UAE's economy, with ADNOC's initiatives and partnerships with international companies like China Petroleum Engineering and Construction Company (CPECC) underscoring the market's potential. The semi-fragmented market landscape includes key players such as Exxon Mobil Corporation, BP PLC, and TotalEnergies SE, all contributing to the sector's dynamic growth trajectory.

Explore More

United Arab Emirates Oil And Gas Upstream Market Size - Table of Contents

1. MARKET OVERVIEW
1. 1.1 Introduction
2. 1.2 United Arab Emirates Crude Oil Production and Forecast, till 2029
3. 1.3 United Arab Emirates Natural Gas Production and Forecast, till 2029
4. 1.4 Recent Trends and Developments
5. 1.5 Government Policies and Regulations
6. 1.6 Market Dynamics
  1. 1.6.1 Drivers
    1. 1.6.1.1 Increasing Natural Gas Production
    2. 1.6.1.2 Rising Upstream Oil and Gas Investments
  2. 1.6.2 Restraints
    1. 1.6.2.1 Plans to Diversify the Power Generation Mix by Adoption of Renewable Energy Sources
7. 1.7 Supply Chain Analysis
8. 1.8 PESTLE Analysis
2. MARKET SEGMENTATION
1. 2.1 Location of Deployment
  1. 2.1.1 Onshore
    1. 2.1.1.1 Overview
      1. 2.1.1.1.1 Existing Projects
      2. 2.1.1.1.2 Projects in Pipeline
      3. 2.1.1.1.3 Upcoming Projects
  2. 2.1.2 Offshore
    1. 2.1.2.1 Overview
      1. 2.1.2.1.1 Existing Projects
      2. 2.1.2.1.2 Projects in Pipeline
      3. 2.1.2.1.3 Upcoming Projects

United Arab Emirates Oil And Gas Upstream Market Size FAQs

How big is the United Arab Emirates Oil And Gas Upstream Market?

The United Arab Emirates Oil And Gas Upstream Market size is expected to reach USD 9.29 billion in 2024 and grow at a CAGR of 5.20% to reach USD 12 billion by 2029.