"United Arab Emirates Oil & Gas Report Q3 2014" Published

The UAE has continued its steady recovery from the global financial crisis without any major disruptions. As the political and economic elite were able to successfully return the country towards a stable investment climate, the fruits of these efforts ultimately created the conditions for the UAE to maximize the potential of its significant oil and natural gas reserves. In 2013, according to the country's National Bureau of Statistics (NBS), the UAE's economy grew by over 5%. A major contributing factor cited by the NBS was the country's steadily rising oil exports. This dynamic will bring the UAE that much closer to its target of increasing oil production to 3.6mn barrels per day (b/d) by 2019. We expect steady growth in oil and gas production over the course of our forecast period. Greater attempts at increasing energy efficiency, efforts to reduce waste and increasing natural gas production will be critical to limiting the UAE's import requirement as consumption continues to outstrip demand, even with some US D 25bn set to be investment in gas projects in Abu Dhabi alone.

Full Report Details at
- http://www.fastmr.com/prod/858687_united_arab_emirates_oil_gas_report_q3_2014.aspx?afid=301

We highlight the following trends and developments in the UAE's oil and gas sector:

* The UAE's upstream investment plan will raise its production capacity while increasing recovery from onshore and offshore fields, resulting in billions in contracts awarded as part of a plan to raise production capacity. Over the next five years, Abu Dhabi is planning to spend USD60bn to raise its production capacity above 3.6mn barrels per day (b/d) by 2019. Given its steady focus on production capacity and investment, BMI believes that the UAE is largely on track to meet this target. However, reports that plans to reach this capacity may be delayed until 2020 as result of delays underscore the risk of such a large investment programme. A new study of the region by Ernst & Young found that the UAE, Oman and Iraq represented almost 60% of the total number of upstream oil and...

The United Arab Emirates Oil & Gas Report has been researched at source and features Business Monitor International (BMI)'s independent forecasts for United Arab Emirates including major indicators for oil, gas and LNG, covering all major indicators including reserves, production, consumption, refining capacity, prices, export volumes and values. The report includes full analysis of industry trends and prospects, national and multinational companies and changes in the regulatory environment.

BMI's United Arab Emirates Oil & Gas Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and competitive intelligence on the Emirati oil and gas industry.

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