UAE EMBRACES ENERGY EXPANSION
March 1st, 2010
BY PAUL COCHRANE
WITH maturing fields, a need for more expansive upstream capabilities, and domestic energy demand spiking year on year, the United Arab Emirates is investing more than US$50 billion (Euro 36.6 billion) on oil and gas projects over the next three years to nearly double output capacity by 2020.
Bankrolling the expansion is Abu Dhabi, the UAE's largest emirate in both geographical size and hydrocarbon reserves, with projects developed by the Abu Dhabi National Oil Company (Adnoc) and its subsidiaries.
Of the total investment, some US$30 billion ...
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