Emirates News Agency – Suhail Al Mazrouei: New oil discoveries cement the UAE’s position as a reliable energy resource

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DUBAI, 23 November, WAM – His Excellency Suhail Al Mazrouei, Minister of Energy and Infrastructure, said that the Supreme Petroleum Council’s announcement of new discoveries of oil resources – which includes two billion barrels of conventional crude oil and 22 billion barrels of unconventional recoverable oil resources – will contribute to driving economic growth. In the UAE and cement its position as a reliable supplier of energy.

His Excellency added in a statement today in this regard: “The discoveries support the UAE’s plans for the next 50 years and the UAE’s development process in various fields … It will also contribute to attracting many foreign investments that the country sees as a safe haven in light of the rapid transformations the world is witnessing and a platform for creating opportunities. New investment in all stages and areas of the oil sector.

His Excellency affirmed that the new oil discoveries will cement the position of the UAE as a major player in the global oil market, as well as reflect the continuous development processes undertaken by ADNOC in its endeavor to achieve its goal of increasing production capacity to 5 million barrels of oil per day by 2030.

His Excellency Al Mazrouei stated that the energy sector in the UAE is one of the important sectors that have witnessed remarkable developments in recent decades, explaining that, in line with the directives of the wise leadership and the National Energy Strategy 2050, the state is keen to diversify energy sources to keep pace with the increasing demand and to ensure a balance between economic needs and environmental goals.

WAM / Halima Al Shamsi / Islam Al Hussein





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