United Arab Emirates Oil & Gas Q4 2018
The unwinding of the OPEC production cut deal will offer a boost to production in H218 and 2019, but a larger projectspipeline is needed to buoy output over the long term. Renewed exploration efforts in the country are a positive sign and couldunlock further resources, reducing reliance on greenfield projects for growth. Natural gas has become a key strategic priority andthe UAE is planning a string of new investments to further develop its large sour gas resources to meeting rising domesticconsumption. However, supply will fall consistently short of demand, leading to a rising gas import dependence across the 10-yearforecast period.
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