7 billion barrels of oil found in new Abu Dhabi reserves; UAE in 6th position in global oil reserves

News Network
November 5, 2019

Abu Dhabi, Nov 5: The UAE’s Supreme Petroleum Council on Monday announced a new pricing mechanism for ADNOC Murban crude, which will be listed on “an exchange,” and also announced a major increases in Abu Dhabi’s oil and gas reserves.

During the meeting held at ADNOC headquarters, the Council revealed the discovery of new hydrocarbon reserves estimated at 7 billion barrels of crude oil and 58 trillion standard cubic feet of conventional gas, putting the UAE in the sixth place in terms of global oil and gas reserves, with a total reserves of 105 billion barrels and 273 trillion cubic feet of conventional gas.

Dr. Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO, has said that support of the UAE’s leadership is enabling ADNOC to accelerate the pace of its ongoing transformation into a more commercially-driven and customer-focused integrated energy company with global reach.

Speaking following the Supreme Petroleum Council, SPC, meeting, Dr. Al Jaber, said, "Following the leadership’s wise directives, ADNOC is adopting more creative strategies and more flexible business models, while shaping value-add partnership opportunities to remain resilient and meet operational and financial targets in today’s unpredictable energy markets, as we deliver our 2030 strategy."

The SPC meeting was presided over by His Highness Sheikh Mohamed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces, and Vice-Chairman of the SPC.

Sheikh Mohamed highlighted ADNOC’s ongoing transformation into a more performance-led and commercially-driven organisation and emphasised the central role ADNOC plays in enabling the UAE’s economic ambitions. He expressed the SPC’s recognition of ADNOC’s efforts to drive foreign investment into the UAE through its approach to strategic partnerships and investments.

He noted ADNOC has recruited over 3,200 Emirati nationals with advanced qualifications since 2016 and is set to employ an additional 1,258 by the end of 2019, including over 600 ADNOC scholars. He also acknowledged ADNOC’s plans to recruit more than 3,000 additional Emirati nationals over the next few years.

Murban crude to be traded on an exchange

Commenting on the SPC’s decision to list ADNOC’s Murban crude on an exchange, Dr. Al Jaber said, "The forward-looking decision and market-orientated foresight of His Highness Sheikh Mohamed bin Zayed and the SPC, to list Murban on an internationally recognised exchange and improve the terms of sale of ADNOC’s Murban Crude, is another significant step in our transformation.

The initiative will enable our customers and other market participants to better price, manage and trade their purchases of Murban. This historic and strategic move cements the UAE, Abu Dhabi and ADNOC’s role in the international oil and gas sector.

He noted, "Murban is recognised the world over for its intrinsic chemical qualities, consistent and stable production volumes, large number of international buyers, and numerous long-term concession and production partners. These landmark changes, the SPC has approved, will make Murban an even more attractive crude to the global market."

MURBAN

Murban is the main onshore crude grade of Abu Dhabi and is produced by ADNOC Onshore – a subsidiary of ADNOC – via the ADNOC Onshore Murban Concession. The Murban concession produces approximately 1.7 mmbpd of Murban crude oil. ADNOC is a 60 percent equity shareholder in the Murban concession, with the remaining 40 percent shareholding held by the other concession partners, BP, Total, INPEX of Japan, GS Caltex of Korea, CNPC and ZhenHua of China.

Increase in reserves

Speaking about the increase in hydrocarbon reserves, Dr. Al Jaber said, "We are very pleased and honoured to have enabled the UAE to move from the seventh to the sixth-largest oil and gas reserves in both global rankings. These achievements underscore ADNOC’s drive to ensure we remain a trusted, reliable and responsible supplier of energy to the world for decades to come.

Crucially, the discovery of substantial unconventional recoverable gas resources, for the first time, marks an important milestone in the development of the UAE’s unconventional resources as we execute our integrated gas strategy."

He added, "The significant discoveries and increase in reserves increase are testament to the hard work, innovation, and dedication of the ADNOC family who are ensuring that we continue to thrive and stay ahead of the world’s growing demand for energy. Building on this success, we are expanding our strategic partnerships and leveraging state-of-the-art technologies and world-class expertise to efficiently expedite further exploration of Abu Dhabi’s huge untapped resources while also driving new commercial opportunities, for the benefit of the UAE."

The council’s announcement was made yesterday during its meeting chaired by His Highness Shaikh Mohammad Bin Zayed Al Nahyan, Abu Dhabi Crown Prince and Deputy Supreme Commander of the UAE Armed Forces.

The council also announced the discovery of 160 trillion standard cubic feet of unconventional gas resources. These discoveries are the first of its kind in the region, marking the beginning of a new phase in the development of unconventional hydrocarbon resources.

The SPC is the highest governing body of the oil and gas industry in Abu Dhabi. The Council formulates, approves, and oversees the implementation of Abu Dhabi's petroleum policy and follows up its implementation across all areas of the petroleum industry to ensure that the set goals are achieved.

After the meeting, Sheikh Mohamed reviewed the progress of ADNOC’s development and expansion projects at its headquarters, as well as its other works, such as a water fountain.

He was then briefed about the new facilities of ADNOC’s headquarters and toured a tunnel linking the building’s staff parking area and the main entrance to its northern and southern lobbies.

During the tour, he also viewed the modern lighting on the green areas surrounding the building, as well as its new plaza area and the drilling heads and valves used in several oil fields, which all combine the modernity and originality of ADNOC.

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News Network
May 7,2020

Dubai, May 7: As India begins the world’s largest evacuation mission by repatriating its overseas citizens stranded due to COVID-19, as many as 354 of them from the UAE will fly into their home country in the first two flights to Kerala today.

An Air India Express flight, which is scheduled to take off from Abu Dhabi to Kochi at 4.15 pm is the first flight, which will be followed by a Dubai-Kozhikode flight of the same airline at 5.10pm. The Indian missions in the UAE finalised the list of passengers, who were chosen based on the compelling reasons they submitted while registering their names.

Selection criteria

These include pregnant women and their accompanying family members in some instances, people with medical emergencies, workers and housemaids in distress, families with cancelled visas, bereaved family members who couldn’t attend funerals back home, a few students and stranded visitors and tourists including two brothers who got stranded in Dubai International Airport for 50 days, the missions said.

Short-listing the first passengers from among a database of more than 200,000 applicants, who include around 6,500 pregnant women, has been a mammoth task which posed several challenges for the missions, Neeraj Agrawal, Consul Press, Information and Culture at the Indian Consulate in Dubai told Gulf News.

He said the consulate set up an operations room in a tie-up with community volunteers from Kerala Muslim Cultural Centre, Indian Association Ajman, AKCAF Task Force, the BAPS Mandir, Indian People’s Forum, and Tamil Ladies’ Sangam.

 “We are trying to accommodate as many deserving people as possible. We expect the understanding of the people. It has been very difficult to sort out everyone’s urgency.”

“We cannot do a lottery system in this and we had to make sub- categories to ensure there is a mix of people with different types of urgencies.”

“Though we want to give priority to pregnant women, it is practically not possible and not good for the health and safety of the applicants to allot a lot of them on the same flight.”

He said 11 pregnant women have been issued tickets on the Dubai-Kozhikode flight.

“That is the threshold we can allow on a flight.”

Volunteer support

The consul appreciated the support of the volunteers in finalising the flight manifest.

“But our response ratio was very less. Many people whose names came up on top of the list were not willing to go on the first flights.”

Due to various constraints like this and sometimes the details of accompanying persons not readily being available, he said the mission was not able to quickly reach out to who might be really in need.

“However, we have given due consideration to people who got in touch with us with their emergency needs. At the time of issuing tickets, we had about 20 such cases.”

He said the Consul General of India in Dubai Vipul led the entire operation and Pankaj Bodkhe, consul, education, was in charge of the Dubai flight.

A big challenge

“It has been a big challenge. Our only concern is that despite our best efforts, sometimes people with more compelling reasons might have got left out on the first flights because of the volume of people who have reached out to us.”

Since there is a chance that some passengers with tickets might not be allowed to fly if they fail the medical screening including blood tests to check antibodies for COVID-19, he said some applicants in the waiting list have been asked to be on standby at the airport.

People with emergencies wishing to fly to other destinations also could not be included, he pointed out.

“We had to ask them to wait. We are unable to send them to other destinations. We can see their desperation. We feel sorry and desperate.”

He said the government is trying to add more flights to un-chartered destinations and a new flight from Dubai to Kannur has been added on May 12.

Passengers of today’s flights have been urged to reach the airport four to five hours prior to departure to facilitate the medical screening.

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News Network
April 25,2020

Apr 25: External Affairs Minister S Jaishankar on Friday spoke to his counterparts from Qatar, the UAE, Niger, Palestine and Czech Republic and held discussions around the coronavirus infection.

In conversation with Qatar Foreign Minister Mohammed bin Abdulrahman Al Thani, Jaishankar discussed their experience of dealing with coronavirus infection and also thanked him for taking care of the Indian community.

"A cordial conversation with FM @MBA_AlThani_ of #Qatar. Discussed our #coronavirus experiences. Thanked him for taking care of the Indian community. Such challenging times will only further strengthen our friendship," he said in a tweet.

Jaishankar also spoke to United Arab Emirates Foreign Minister Sheikh Abdullah bin Zayed.

"Pandemics further highlight the need for international cooperation. Few better examples than our relationship with #UAE. Applaud the generosity of spirit and clarity of policy that has characterised its approach. Thank HH @ABZayed for the warm conversation today," he said in another tweet.

Jaishankar also spoke to Niger Foreign Minister Kalla Ankourao and assured him of India's support in meeting the coronavirus challenge, including medicines.

"Just spoke with FM @kallaankourao of #Niger. Assured him of India's support in meeting the #coronavirus challenge, including medicines. Discussed its global implications in the context of the United Nations," he tweeted.

Jaishankar also discussed the coronavirus situation with Palestine Foreign Minister Riad Al Malki. "Welcomed speaking with FM Riad Al Malki of #Palestine. Discussed the #coronavirus situation. Assured him of Indian medical assistance," he said in a tweet.

He also exchanged experiences on coronavirus response with Czech Foreign Minister Tomas Petricek.

The minister said the two leaders agreed that there are valuable lessons for international cooperation.

"Glad to catch up with FM @TPetricek of #CzechRepublic. Exchanged our experiences on #coronavirus response. Agreed that there are valuable lessons for international cooperation. Look forward to keeping in touch," he said in a tweet.

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News Network
March 6,2020

Riyadh, Mar 6: Saudi Arabia on Thursday emptied Islam's holiest site for sterilisation over fears of the new coronavirus, an unprecedented shutdown state media said will last while the year-round Umrah pilgrimage is suspended.

The kingdom halted the pilgrimage for its own citizens and residents on Wednesday, on top of restrictions announced last week on foreign pilgrims to stop the disease from spreading.

State television relayed images of an empty white-tiled area surrounding the Kaaba -- a large black cube structure inside Mecca's Grand Mosque -- which is usually packed with tens of thousands of pilgrims.

As a "precautionary measure", the area will remain closed as long as the umrah suspension lasts but prayers will be allowed inside the mosque, state-run Saudi Press Agency cited a mosque official as saying.

Additionally, the Grand Mosque and the Prophet's Mosque in the city of Medina will be closed an hour after the evening "Isha" prayer and will reopen an hour before the dawn "Fajr" prayer to allow cleaning and sterilisation, the official added.

A group of cleaners was seen scrubbing and mopping the tiles around the Kaaba, a structure draped in gold-embroidered gold cloth towards which Muslims around the world pray.

A Saudi official told news agency the decision to close the area was "unprecedented".

On Wednesday, Saudi Arabia suspended the umrah for its own citizens and residents over fears of the coronavirus spreading to Islam's holiest cities.

The move came after authorities last week suspended visas for the umrah and barred citizens from the six-nation Gulf Cooperation Council from entering Mecca and Medina.

Saudi Arabia on Thursday declared three new coronavirus cases, bringing the total number of reported infections to five.

The umrah, which refers to the Islamic pilgrimage to Mecca that can be undertaken at any time of year, attracts millions of Muslims from across the globe annually.

The decision to suspend the umrah mirrors a precautionary approach across the Gulf to cancel mass gatherings from concerts to sporting events.

It comes ahead of the holy fasting month of Ramadan starting in late April, which is a favoured period for pilgrimage.

It is unclear how the coronavirus will affect the hajj, due to start in late July.

Some 2.5 million faithful travelled to Saudi Arabia from across the world in 2019 to take part in the hajj, which is one of the five pillars of Islam as Muslim obligations are known.

The event is a massive logistical challenge for Saudi authorities, with colossal crowds cramming into relatively small holy sites, making attendees vulnerable to contagion.

Already reeling from slumping oil prices, the kingdom risks losing billions of dollars annually from religious tourism as it tightens access to the sites.

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