The Petroleum Experience of Abu Dhabi

نبذة عن كتاب The Petroleum Experience of Abu Dhabi

Since granting its first oil concession in1939, Abu Dhabi has gained valuable experience in terms of the development of its natural resources and its relationships with foreign oil companies. Abu Dhabi is one of seven emirates that constitute the United Arab Emirates (UAE) federation, established in December 1971. The UAE is a major Arabian Gulf oil producer and is a member of both the Organization of the Petroleum Exporting Countries (OPEC) and the organization of Arab Petroleum Exporting countries (OAPEC). Thanks to its extensive reserves of oil and gas, the UAE enjoys a comfortable production capacity. Oil, in effect, is the corner-stone of its economy. Of the seven emirates comprising the YAE federation, Abu Dhabi possesses the largest oil and gas reserves and is the principal producer.
The UAE has neither a unified federal oil policy nor any federal petroleum legislation that governs the granting of exploration and development permits. Therefore, each emirate handles its own petroleum affairs. Since Abu Dhabi is the largest oil producing emirate, with the most substantial oil reserves, the richest experience in the oil industry and the longest history of relationships with foreign oil companies, it is ideally suited to serve as the focus of a study of the development of petroleum resources in the UAE.
This book explores this development, outlining the main features of the petroleum experience of Abu Dhabi and the core principles of the emirate’s petroleum policy, including: the legal framework for the development of its petroleum resources; Abu Dhabi’s experience in the field of gas production; the fiscal regime governing oil and gas operations; the methods used in the settlement of disputes involving oil agreements; and the evolving relationships between the government of Abu Dhabi and the oil companies operating within the emirate.