One of the main goals of Abu Dhabi’s development strategy is to increase high-skilled employment among Emiratis, while another is strengthening local research and development (R&D), to boost innovation and value-added. Thus, development of the skills for the hydrocarbons sector is key. Abdul Munim Saif Al Kindy, deputy chairman of the Petroleum Institute (PI), told...
Even though substantial new oil discoveries are not expected in the near future, the Abu Dhabi National Oil Company (ADNOC) is working to increase daily production at existing fields. As a result, the company and its partners are focusing on increasing production from existing fields, particularly offshore.
Renewable energy should account for 7% of Abu Dhabi’s power generation capacity by 2020, the emirate’s government pledged in 2009 at the opening of the World Future Energy Summit, which was held in Abu Dhabi City. Most of this will come from solar power plants, which can capitalise on the emirate’s year-round sunshine. Abu Dhabi is already home to Shams 1, one of the...
It would be hard to overstate the importance of the oil industry to Abu Dhabi. The discovery of black gold in 1954 has led to a transformation of the emirate’s economy. Oil and gas contribute more than half of Abu Dhabi’s GDP – 54.6% of the total in 2013, according to the “Statistical Yearbook of Abu Dhabi 2014”, published by the Statistics Centre - Abu Dhabi....
Recent regulatory reforms to Abu Dhabi’s insurance industry have demonstrated the Insurance Authority’s (IA) intent to encourage market consolidation, setting strict standards for new entrants and high paid-up share capital requirements for existing players, as well as financial reporting stipulations aimed at improving brokerage transparency and sustainability. Although...
As the first emirate in the UAE to issue mandatory health insurance legislation, Abu Dhabi has grown into the nation’s most mature and robust insurance market. While the industry remains in its nascent stages, with overall penetration still low relative to more developed markets, an uptick in the life and medical segments offers significant opportunities for future...
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