The agreement between Adnoc and the Dubai Supply Authority comes less than three months after the Supreme Petroleum Council in Abu Dhabi announced the discovery and addition of new hydrocarbon reserves estimated at 7 billion barrels of crude oil and 58 trillion cubic feet of conventional gas.
This contributed to the UAE moving to sixth spot – up by one – globally in terms of global oil and gas reserves, with a total reserves of 105 billion barrels of oil, 273 trillion cubic feet of conventional gas and 160 trillion cubic feet of standard non-conventional gas resources.
Dubai Supply Authority (Dusup) is responsible for “providing energy for Dubai by sourcing and distributing natural gas and LNG” to fuel the generation of power and production of water.
“We add significant value to Dubai by providing safe uninterrupted receipt, storage, production and transmission of natural gas and LNG through reliable infrastructure, effective operations and strategic planning,” the company’s mission statement notes.
This would be the second big alliance featuring Dubai and Abu Dhabi companies – in early 2018, the formation of such a partnership beween Emaar and Aldar Properties was announced. The plan, announced at the time, was to create Dh30 billion worth of joint investment projects.
Sharjah’s gas find
Interestingly, it was just last week that the Sharjah National Oil Corporation announced the discovery of an in-land gas field. The natural gas and condensate field has “flow rates of up to 50 million standard cubic feet per day, along with the liquids associated with it,” Sharjah had announced at the time.