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I am delighted to introduce our Q2 update of our HFI’s ADVI - Abu Dhabi Ventures Initiative launched in the week of Make it in the Emirates 2024 in Abu Dhabi. This is the third Make it in the Emirates forum, the first being launched in 2022 and it tracks the progress being made in the UAE’s drive to implement its ICV programme.  You can find our HFI’s Abu Dhabi Ventures Initiative (ADVI) Q2 Edition in Flipbook form here and in PDF format here.

The EIC (Energy Industries Council) DataStream service is currently tracking approximately 134 major energy sector projects in the UAE across upstream oil & gas, refineries, petrochemicals, nuclear and renewables, representing US$200.4 billion of opportunities. This is over 29% of the current total GCC US$684.5 billion energy contracts market size. EIC will be providing an update on the energy projects market in the UAE via its webinar on 6 June. The major annual petroleum/energy conference is the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) which will next be held in November 2024.

The oil & gas market is quantified at US$174.5 billion with the leading players including ADNOC Group (Abu Dhabi National Oil Company), TA’ZIZ, Borouge (Abu Dhabi Polymers Company), EmiratesLNG and @Brooge Petroleum and Gas Investment Co. (BPGIC). The power and transmission & distribution market is quantified at US$13.7 billion with the leading players being ADNOC, Emirates Water and Electricity Company (EWEC), and Dubai Electricity & Water Authority (DEWA). The energy transition market is quantified at US$12 billion with the leading players being Dubai Electricity & Water Authority (DEWA), Besix Group, Brooge Renewable Energy (BRE), Al Reyadah and Helios Industry.

ADVI supports advanced petroleum technology and energy transition ventures relating to ADNOC Group-driven opportunities in the United Arab Emirates, with a growing emphasis on the KEZAD Group special economic zone and free zone and the “Make It in the Emirates” local manufacturing program. Given the key roles of TAQA Group, ENEC and Mubadala Energy in the power/nuclear sector and in the energy transition, ADVI also extends to renewables and clean energy ventures under the Abu Dhabi Economic Vision 2030 and UAE Energy Strategy 2050, and we offer a Masdar (Abu Dhabi Future Energy Company) Corporate & Compliance Solutions service in relation to the Masdar City Free Zone initiative which is led by Mubadala Investments.

HFI’s ADVI - Abu Dhabi Ventures Initiative supports clients to address key challenges including 100% foreign ownership laws, local partner agreements, technology licences, manufacturing facilities contracts, corporate taxation, ICV procurement policies and Emiratisation regulations.

If any further detailed information or advice is needed on any of the issues raised in this ADVI eGuidebook, we will be pleased to advise accordingly.