• 出版社/出版日：Mordor Intelligence / 2021年5月25日
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The United Arab Emirates oil and gas market is expected to register a CAGR of greater than 2.2% during the forecast period. The low oil prices during the COVID-19 pandemic resulted in a cut down of the nation’s 2021 budget by 5.3% in comparison to 2020. The nation has also cut down the oil production by 100,000 BPD in June 2020 due to low crude prices and low demand for petroleum products. However, the market is expected to recovery since 2021 owing to the factors, such as increasing investment in the upstream sector coupled with supportive government policies. Moreover, in 2018, the country launched a mega project worth USD 45 billion, to increase its refining capacities in the existing refineries. The project is expected to increase the refining capacity of the country by 65%, up to 1.5 million barrels per day by 2025. Therefore, increasing investment in the upstream, midstream and downstream sectors is expected to drive the oil and gas market during the forecast period. However, the plans to diversify the power generation mix by introducing renewable energy sources are expected to hinder the growth of the market studied during the forecast period.
– The oil and gas upstream sector is expected to dominate the market, owing to upcoming E&P projects and inreasing investments during the forecast period.
– The increasing demand for LNG in the country leads to the integration of smart technologies in the existing LNG infrastructure, which may create an ample number of opportunities in the region for the market players in the coming years.
– Rising oil and gas investment, especially in the upstream and midstream sectors, is expected to drive the nation’s oil and gas market during the forecast period.
Key Market Trends
Upstream Sector is Expected to Dominate the Market
– The United Arab Emirates accounted for over 13% of the share in the Middle-East’s oil production, with 3.9 million barrels per day production, in 2019. It also has 11.5% of the region’s proved oil reserves as of 2019.
– The country’s oil reserves stood at 97.8 billion barrels (bbl) and gas reserves stood at 5.9 trillion cubic meters (TCM), as of 2019. About 90% of the total reserves are located in Abu Dhabi, followed by Dubai, Sharjah, and Ras al-Khaimah. The majority of the acreage, both onshore and offshore, is relatively well explored, while the recent drilling has yielded a few significant discoveries.
– Moreover, in April 2018, the national oil company, ADNOC, as a part of Abu Dhabi’s first-ever block licensing strategy, offered six geographical oil and gas blocks for licensing. This is expected to supplement the uptake of newer oil and gas upstream projects in the country.
– Additionally, in a bid to counter the production from the maturing fields, the country plans to increase investments in the field expansion projects and the application of enhanced oil recovery (EOR) techniques.
– Hence, investments and policies for new oilfields are expected to be the biggest and the most dominating driver for the oil and gas market during the forecast period.
Rising Oil and Gas Investment to Drive the Market
– As of 2020, the United Arab Emirates was the sixth-largest crude oil producer and the fourth-largest producer of petroleum liquids in the Organization of the Petroleum Exporting Countries (OPEC). The oil and gas sector is critical to the United Arab Emirates economy, contributing significantly to the country’s revenue.
– The nation’s oil and gas sector has a significant infrastructure that helps the country trade its hydrocarbon to other parts of the world. Moreover, as part of its 2030 strategy of creating a more profitable petroleum sector, the country has formulated plans to significantly increase investments in the midstream and downstream sectors in the coming years.
– As part of its downstream expansion strategy, Abu Dhabi National Oil Company (ADNOC) announced its plans of investing approximately AED 165 billion in the downstream sector.
– Also, few recent projects, such as the newest export pipeline from Habshan to Fujairah of 220 miles, may help the United Arab Emirates directly link the rich field of its western desert to the Gulf of Oman, as conduct to the global market. The country also has the world’s largest bunkering port in Fujairah, which is expected to expand the terminal by the addition of private tank storage units, with a tentative capacity of around 88 million barrels by 2020, with the help of foreign investment.
– Furthermore, in September 2018, Adnoc LNG, a subsidiary of ADNOC, signed an AED 3.16 billion engineering, procurement, and construction (EPC) contract with a joint venture of Spanish and the United Arab Emirates companies for the second phase development of its Integrated Gas Development Expansion (IGD-E) project.
– Hence, making some of the major projects economically viable with the help of domestic and foreign investment is expected to drive the United Arab Emirates oil and gas market during the forecast period.
The United Arab Emirates oil and gas market is moderately fragmented. Some of the major players operating in this market include Abu Dhabi National Oil Company (ADNOC), Exxon Mobil Corporation, Schlumberger Limited, Al Masaood Oil Industry Supplies & Service Co., and Halliburton Company.
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1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
4.2 Oil and Gas Reserves in the United Arab Emirates, till 2019
4.3 Crude Oil Production and Consumption Forecast in thousand barrels per day, till 2026
4.4 Natural Gas Production and Consumption Forecast in billion cubic feet per day, till 2026
4.5 Contribution to Regional and World Oil and Gas Production, 2019
4.6 Import and Export Analysis of Crude Oil, Petroleum Products, and Natural Gas
4.7 Recent Trends and Developments
4.8 Government Policies and Regulations
4.9 Market Dynamics
4.10 Supply Chain Analysis
4.11 PESTLE Analysis
5 MARKET SEGMENTATION – BY SECTOR
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Oil and Gas Operators
126.96.36.199 Abu Dhabi National Oil Company (ADNOC)
188.8.131.52 Exxon Mobil Corporation
184.108.40.206 BP PLC
220.127.116.11 Royal Dutch Shell PLC
18.104.22.168 Total SA
6.3.2 Oil and Gas Technology and Service Providers
22.214.171.124 Schlumberger Limited
126.96.36.199 Al Masaood Oil Industry Supplies & Service Co.
188.8.131.52 Halliburton Company
184.108.40.206 China Oilfield Service Limited (COSL)
220.127.116.11 Expro Group
7 MARKET OPPORTUNITIES AND FUTURE TRENDS