Top Ten Oil and Gas Companies in UAE 2022 | UAE Petroleum Industry

The UAE is the 4th largest oil producer globally and has an abundance of natural gas. Oil and Gas companies are a vital part of this country’s economy and the global market. This article will be discussing the top 10 oil and gas companies in UAE.

Oil and Gas Industries in UAE

The oil and gas industry has been a vital part of the economy for UAE, with its main exports of crude petroleum. The country is ranked as one of the top producers in the world, ranking fourth out of all countries that export crude oil.

Many companies in this industry produce natural gas, including Abu Dhabi National Oil Company (ADNOC), Petrobras, and Royal Dutch Shell. These three companies make up 60% of global production output according to Bloomberg Markets Magazine’s Top 1000 World Ranking List in 2018.

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Top Ten Oil and Gas Companies in UAE

The UAE is rich in natural resources and has a booming economy. The oil and gas industry plays a huge role in the success story of this country. That is why it makes sense that these top ten companies are crucial to the future of the UAE’s growth. They provide essential services such as exploration, extraction, refining, and petrochemical products for both internal consumption and export purposes. 

The list below includes information on what each company does, their headquarters location as well as their current market capitalization value from Bloomberg: 

1.Dragon Oil- Oil and Gas Companies in UAE

Dragon Oil, oil and gas companies in uae
Dragon Oil

Dragon Oil is a subsidiary company of the Abu Dhabi National Energy Company. It was founded in 1971 and operated through exploration, extraction, refining, and petrochemical products for both internal consumption or export purposes. It has headquarters located in Dubai, and it’s currently worth US$ 11 billion, according to Bloomberg data (2014).

The company is involved in a variety of oil and gas projects, both onshore or offshore. Their main activities include the production of hydrocarbons (crude oil) and engineering services for exploration, fabrication, and construction through its subsidiary companies.

Dragon Oil currently has interests in nine producing fields that produce over half a million barrels per day out of more than 12 million barrels exported annually. The company also owns three refineries with an annual capacity of 16-18 million tons that convert crude to diesel fuel, gasoline, kerosene, among other products.

In addition, it operates one petrochemical plant which produces polyethylene resins used to manufacture plastics such as films and packaging materials.

Dragon Oil employs more than 900 highly qualified employees worldwide.

  • Industry: – Oil and Gas Company
  • Employees: – 14500+
  • Founded: – 1971
  • Revenue (USD): – USD $11 BILLION
  • Location: – Dubai
  • Website: – www.dragonoil.com

2.Crescent Petroleum

Crescent Petroleum is a petroleum company in the United Arab Emirates. The company operates oil and gas exploration and production activities and downstream refining and marketing operations. Crescent Petroleum produces a number of products, including liquefied natural gas (LNG), diesel fuel oil, jet fuel JP54, and gasoline blending components for its retail stations in the UAE.

Founded in 1971 by Abdul Hamid Jafar, Crescent Petroleum has grown to become one of the fastest-growing energy companies with a significant international reach. Crescent Petroleum is one of the largest oil and gas companies in Sharjah.

  • Industry: – Oil and Gas, Energy
  • Founded: 1971
  • Revenues (USD):$29.37 billion
  • Location: Sharjah, United Arab Emirates
  • Website:- www.crescentpetroleum.com
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3.Emirates National Oil Company

Emirates National Oil Company

As it is more commonly referred to locally, Emirates National Oil Company, or ENOC, was established in 1993 and operated primarily across the United States.

The company has three refineries with a combined processing capacity of 16 million tons per annum that produce petroleum products such as gasoline (petrol), kerosene, diesel fuel oil (DFO).

It also owns one petrochemical plant which produces polyethylene resins used for manufacturing plastics like films & packaging materials. Considering there are over 9000 employees that work in accordance with customers from all around the world, they have a considerable level of expertise for offshore exploration projects in the Middle East.

  • Industry: – Oil and Gas Company
  • Employees: – 9000+
  • Founded: – 1993
  • Revenue (USD): – U.S.$12 billion
  • Location: – Dubai, UAE
  • Website: – www.enoc.com

4.TransAsia Gas International

TransAsia Gas International
TransAsia Gas International

TransAsia Gas International is a private oil and gas company based in Dubai, UAE. They produce approximately 600 million cubic feet of petroleum products per day through the use of an extensive network of offshore drilling platforms off the coast of Fujairah on the Arabian Gulf.

TransAsia has production assets located primarily in Oman (West Central) with exploration blocks under development in Qatar and Yemen. The company operates long-distance pipelines that export its gas to Ghana, Australia, and other nearby countries.

The company is listed on the Dubai Financial Market and trades under “TAGI.”

In 2011, TransAsia Gas International was awarded a license to explore Yemen with exclusive oil production rights. They also have exploration licenses in Qatar that are currently inactive. In 2014, they were given consent by Oman’s Ministry of Oil & Gas to develop their offshore fields for petroleum products through 2020.

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  • Industry: – Petroleum Products
  • Employees: ~1000 –
  • Founded: – 1984
  • Revenue (USD): – $700 million (~$700,000)
  • Location: -Dubai, United Arab Emirates
  • Website: https://www.alghurair.com/

5.Abu Dhabi National Oil Company

Abu Dhabi National Oil Company

Abu Dhabi National Oil Company, also known as ADNOC, is the national oil company of Abu Dhabi. It was established in May 1971 and operated six main subsidiaries:

  1. Adnoc Distribution Company Limited,
  2. Abco Offshore LLC – a joint venture between ADNOC Group and Baker Hughes),
  3. Anadarko Petroleum Corporation (a 50/50 JV with Kerr-McGee) ),
  4. ConocoPhillips,
  5. ExxonMobil Development Company (an equal partnership with Exxon Mobil Corp and
  6. General Electric.

The key strategy for ADNOC’s development has been to diversify its operations by acquiring downstream assets such as refineries. The first acquisition came in 1998 when it took over the Abu Dhabi Petroleum Company. In 2002, it merged with TAMCO and Mubadala Development Company to form ADNOC Group.

The company has 103 service stations and other retail businesses in Abu Dhabi.

In addition to its core oil and gas business, ADNOC is also involved in petrochemicals (through Adcom Petrochemical Industries), power generation (through Yasat International), and desalination(through Thakafez).

  • Industry: – Oil and Gas
  • Employees: – 55,000 (2015)
  • Founded: – 1971 (restructured in 1988)
  • Revenue (USD): – US$60 billion (2014)
  • Location: – Abu Dhabi, United Arab Emirates
  • Website: – www.adnoc.ae

6.ADNOC Gas Processing

ADNOC Gas Processing

ADNOC Gas Processing provides various support services to ADNOC Group, the largest oil and gas company in UAE. It has a presence across all key industry segments, including exploration & production, refining & petrochemicals, marketing & trading, and power generation.

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The company offers three principal service lines:

  • Process Technology Engineers at ADNOC Gas Processing are involved in designing and managing the construction of upstream facilities, including natural gas processing plants.
  • Process Operations Monitoring Services offers an integrated suite of global monitoring products that help companies detect abnormal operating conditions, leading to prevention and predictive maintenance.
  • Process Engineering specializes in turnkey building solutions for gas plants or power systems at remote locations.

ADNOC Group was established in 1975. It is a wholly-owned subsidiary of Abu Dhabi National Oil Company (ADNOC).

The company employs over 20,000 people worldwide who come from 89 nationalities. They have offices in almost every country worldwide, including India, Bahrain, Egypt, and China.

Its headquarters are located in Abu Dhabi with branches all around the UAE’s capital city, while its upstream operations are based out of Dubai near Jebel Dhanna.

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  • Industry: – Oil and Gas Industry
  • Employees: – 20,000+
  • Founded: – 1975
  • Revenue (USD): – US$60 billion
  • Location: – Abu Dhabi, United Arab Emirates
  • Website: – adnoc.ae/en/adnoc-gas-processing/

7.Dana Gas – Oil and Gas Companies in Abu Dhabi

Dana Gas
Dana Gas

Dana Gas is an oil and gas company that was established in 2005. It operates from Sharjah, United Arab Emirates. Dana Gas has a total of US$470 million in revenue at the end of 2018.

It specializes in LNG, LPG, natural gas exploration and production, and downstream activities, including petrochemicals processing, power generation, and marketing to other industrial sectors such as fertilizers manufacturing.

The company employs over 500 employees worldwide who come from more than 12 nationalities, including Australia, Canada, Ghana, England, India, Kuwait, Malaysia, Nepal, Nigeria, Pakistan, Qatar, Saudi Arabia, Sri Lanka, Trinidad & Tobago, UAE, Yemen, Zambia, Zimbabwe, etc…

Its headquarters are located in Abu Dhabi, with branches all around the UAE’s capital city.

  • Industry: – Oil and Gas
  • Employees: – 500+
  • Founded: – 2005
  • Revenue (USD): – US$470 million (2018)
  • Location: – Sharjah, United Arab Emirates
  • Website: – danagas.com

8.TAQA- Abu Dhabi Oil and Gas Company

TAQA, Abu Dhabi oil and gas Company
TAQA

TAQA is the Abu Dhabi National Energy Company. Abu Dhabi’s investment arm has created a company to multiply renewable energy, oil, and gas production.

TAQA employs around 2700 staff members at its offices based out of Abu Dhabi, with its head office located off Al Karama Street near Khalidiyah Mall.

The company has a number of regional offices spread throughout countries such as Saudi Arabia, Kuwait, Oman, and Qatar. They are interested in developing power generation projects through investment partnerships with other companies and providing employment opportunities for locals.

  • Industry: – Oil and Gas
  • Employees: – 2,700 (2013)
  • Founded: – 2005
  • Revenue (USD): –
  • Location: – Abu Dhabi, United Arab Emirates
  • Website: – www.taqaglobal.com

9.Sharjah National Oil Corporation

Sharjah National Oil Corporation
Sharjah National Oil Corporation

Sharjah National Oil Corporation, or SNOC for short, is one of the largest oil and gas companies in the United Arab Emirates. They are based in Sharjah, with a population estimated at two million due to its location near Dubai.

The company’s head office is located off Al Karama Street. SNOC has 1000 employees who specialize in the exploration, production, supply, and distribution of oil and natural gas products.

The company’s primary goal is to provide customers with energy security by supplying them with what they need when they need it most. They Supply crude oil, diesel oils, liquefied petroleum gases (LPG), butane ethylene propadiene (BEP), and gas oil.

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SNOC was founded in 2010, has a revenue of $119 million USD, according to their website.

  • Industry: – Oil and Gas
  • Employees: – 1000+
  • Founded: – 2010
  • Revenue (USD): – $119 million
  • Head Quarter- Sharjah, UAE
  • Website: – www.snoc.ae

10.Dolphin Energy

Dolphin Energy
Dolphin Energy

Dolphin Energy is an international trading company that has headquarters in Abu Dhabi, UAE. The company specializes in importing various petroleum products such as crude oil, diesel oils, liquefied petroleum gases (LPG), butane ethylene propadiene (BEP), and gas oil.

The company was founded in 1999, and it has over 1000 employees. Dolphin Energy is included in the top ten oil companies list because of its revenue which reached $73 million annually.

They are ranked ten on the list with annual revenue that reaches 73 million dollars per year, making them one of the UAE’s largest petroleum trading companies. They employ more than a thousand people, and ADNOC has licensed them.

  • Industry: – Oil and Gas
  • Employees: – 1000+
  • Founded: – 1999
  • Revenue (USD): – $73 million
  • Headquarter: – Abu Dhabi, United Arab Emirates
  • Website: – www.dolphinenergy.com

FAQ

1.Who owns the oil in UAE?

Answer: The UAE government owns the oil within the UAE’s borders, which amounts to 75% of the country’s total wealth. In 2014 the country awarded drilling licenses to BP and Total.
The rest of UAE’s wealth is represented in its landmass that includes deserts and agriculture, minerals (copper & iron), construction sand which totals 25%.

2.Which is the biggest oil and gas company in the UAE?

Answer: At the top of any list of largest oil and gas companies in UAE will be Abu Dhabi National Oil Company or ADNOC. Founded in 1976 to take advantage of the booming oil market, ADNOC took over all other government-owned entities with that same goal.
The Emirate’s government owns around 94 percent of its stock. The group went on to play a significant role in development after production began up until now when it is one of the most prominent producers not only in the UAE but across Asia as well.
ADNOC has six main divisions, including exploration and production for both crude petroleum and natural gas hydrocarbons, refining, infrastructure & pipelines, merchant trading, and marketing services for crude petroleum products and petrochemicals.

3.How much oil is left in the UAE?

Answer:
The UAE is one of the world’s leading oil-producing countries, with an estimated 98.81 billion barrels in reserves and a production capacity of approximately 11 million barrels per day (bpd). Total proved crude oil reserves are about 99.97 billion barrels as of January 2013. The ministry estimates that there will be enough to sustain current output levels for another 50 years or more.

4.Which oil is produced in the UAE?

Answer:
The UAE production is primarily light crude oil. The country does not produce any heavy, sour, or extra-heavy oils as of 2016.

Conclusion:

That’s all about the Top ten oil and gas companies in UAE. We provide you with a list of oil and gas companies in Abu Dhabi. I think you’ll find this a useful resource. If you have any questions, then let us know in the comment section.

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