Overview
Abu Dhabi holds approximately 96 per cent of the UAE’s proven crude oil reserves, estimated at 98 billion barrels. This places the emirate among the top six holders of proven reserves globally, behind Venezuela, Saudi Arabia, Iran, Canada, and Iraq. The reserve base is concentrated in a relatively small number of super-giant and giant fields, most operated by ADNOC under concession agreements with international partners.
Current Status
Production currently stands at approximately 3.5 million barrels per day, constrained by OPEC+ quota agreements rather than geological or infrastructure limitations. ADNOC’s stated capacity target is 5 million barrels per day by 2027, which would provide significant headroom above current production levels when quota restrictions eventually ease. Enhanced oil recovery techniques, including carbon dioxide injection and water-alternating-gas flooding, are extending the productive life of mature onshore fields.
The Supreme Petroleum Council, chaired by Abu Dhabi’s ruler, retains ultimate authority over reserve management and concession awards. Recent concession renewals have introduced more flexible terms, attracting new international partners including Chinese, Japanese, and Indian national oil companies alongside traditional Western majors.
Key Data
| Field | Type | Estimated Reserves | Operator |
|---|---|---|---|
| Upper Zakum | Offshore | 50 bn bbl | ADNOC (60%) |
| Lower Zakum | Offshore | 16 bn bbl | ADNOC |
| Asab | Onshore | 7 bn bbl | ADNOC Onshore |
| Bu Hasa | Onshore | 10 bn bbl | ADNOC Onshore |
| Umm Shaif | Offshore | 5 bn bbl | ADNOC Offshore |
| Bab | Onshore | 4 bn bbl | ADNOC Onshore |
Strategic Significance
At current production rates, Abu Dhabi’s reserve-to-production ratio exceeds 75 years, providing one of the longest reserve horizons of any major producer. This longevity is a strategic asset: it ensures that Abu Dhabi can sustain production through multiple energy transition scenarios while competitors with shorter reserve lives face earlier depletion. The low extraction cost, averaging $10-15 per barrel, means Abu Dhabi crude remains economically viable even in low-price environments.
Vision 2031 Alignment
Prudent reserve management underpins the entire Vision 2031 economic model. Oil revenues remain the primary fiscal engine funding sovereign wealth accumulation, infrastructure development, and diversification initiatives. The capacity expansion to 5 million barrels per day is designed to maximise revenue during the remaining decades of robust global oil demand, generating the surplus capital required to fund the post-hydrocarbon economy that Vision 2031 envisions.