UAE commits AED202 billion to oil and gas in 2009

26/05/2009 - Dubai Investment News
UAE commits AED202 billion to oil and gas in 2009

The UAE has set a new regional record for investment in upstream opportunities in the oil and gas industry, confirming that the emirates will spend AED202 billion on exploration and production in 2009.

This amounts to a 30 per cent increase on spending for last year and is the largest upstream budget in the Middle East.

And in order to achieve optimum efficiency in exploration and production, the UAE is calling on SAS Analytics, the business intelligence and analytics software provider.

Group regional director for oil and gas Peter C Venn commented: "As the country with the fifth largest oil reserves in the Middle East, the UAE has become a key market for our analytical solutions."

He added that the UAE has taken an invigorated interest in production replacement output maximisation.

At the beginning of the year, SAS played host to the biggest names in the oil and gas industry at the Hilton Abu Dhabi, the chosen venue for its Energy Conference 2009.ADNFCR-2019-ID-19186929-ADNFCR