Abu Dhabi twin tracks for Petroleum and Clean Energy growth in 2022
Abu Dhabi is pushing forwards with its dual objectives for petroleum and clean energy growth.
ADNOC Group has announced a major EPC contract award of close on $1 billion to NPCC to develop the Umm Shaif field, a key part of the group’s plan to boost oil production to 5 million barrels per day by 2030. This followed US$6 billion of drilling-related contract awards announced at ADIPEC 2021.
Meanwhile Abu Dhabi will host the latest World Future Energy Summit on 17 to 19 January, the largest solar energy focussed global exhibition. WFES will track the massive 290 GW of new global renewables capacity installed in 2021 recorded by the International Energy Agency (IEA) and the projects coming on stream in 2022 and beyond.
Beyond solar, the UAE commissioned the Barakah nuclear power plant in 2020 and Andrew Renton of Edinburgh-based Castletown Law will be rolling out of our associated firm’s specialist advisory service on small modular reactors (SMRs) at WFES.
Hugh Fraser International is widening out its ADVI - Abu Dhabi Ventures Initiative for 2022, with an ongoing focus on technology-driven joint ventures and the Masdar (Abu Dhabi Future Energy Company) free zone.