New base 989 special 19 january 2017 energy news

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NewBase 19 January 2017 - Issue No. 989 Senior Editor Eng. Khaled Al Awadi

NewBase For discussion or further details on the news below you may contact us on +971504822502, Dubai, UAE

UAE Masdar takes 25% stake in world’s first floating wind farm Masdar, Abu Dhabi’s renewable energy company, has acquired a stake in Hywind Scotland, a 30-megawatt (MW) floating offshore pilot wind farm in the North Sea, it was announced at an official ceremony during Abu Dhabi Sustainability Week 2017. Through the transaction Statoil and Masdar have agreed to share the development risk and Masdar will cover 25 per cent of previous and future costs. Due to start commercial operation in late 2017, Hywind Scotland is the world’s first floating offshore wind farm. The objective of the Hywind pilot farm is to demonstrate cost efficient and low risk solutions for future commercial-scale floating wind farms, a statement said.

Tone Skogen, State Secretary in the Ministry of Foreign Affairs, Norway, attended an official ceremony to announce Masdar’s entry into the Hywind Scotland project. Dr Sultan Al Jaber, UAE Minister of State and chairman of Masdar; Dr Thani Al Zeyoudi, Minister of Climate Change and Environment of the UAE; Jens Eikaas, Norwegian Ambassador to the UAE; Tom Marchbanks, regional manager Middle East, Scottish Development International; Mohamed Jameel Al Ramahi, chief executive officer of Masdar, and Irene Rummelhoff, executive vice president, New Energy Solutions of Statoil, were also present. “Having met with representatives of Masdar at the Adipec conference late last year, I am greatly encouraged by this substantial international investment in Hywind Scotland and look forward to the further development of this world-leading 30 MW project, which will be situated 15 miles from Scotland’s North East coast,” said Keith Brown, Cabinet Secretary for the Economy and Fair Work, Scottish Parliament.




“When complete, Hywind Scotland will be the first floating wind farm in the UK and its novel technology offers vast, global potential. This pilot project aims to take advantage of Scotland’s huge offshore wind resource by operating in waters exceeding 100m depth, demonstrating cost efficient and low risk solutions for commercial scale parks. “Major investments, such as this one made by Masdar, highlight the importance of continued investment in offshore wind, are a sign of increasing confidence within the sector, and position Scotland at the forefront of the global race to develop the next generation of offshore wind technologies.” Located off the coast of Peterhead in Abderdeenshire, Hywind Scotland consists of five 6MW floating wind turbines anchored to the seabed. The farm covers an area of around four-square kilometres, with the average wind speed in this area of the North Sea is around 10 m per second. The ongoing construction of monopiles will be followed by assembly at Stord in Norway next summer, before they are shipped to Scotland. “Masdar is excited to join the team developing the world’s first floating wind farm, and to build on our partnership with Statoil,” said CEO Al Ramahi. “Hywind Scotland represents the next stage in the evolution of the offshore wind industry, combining the project management experience and technical expertise of one of the world’s largest offshore energy players – and our own capabilities in renewable energy development acquired over the last decade in the UK and international markets,” Al Ramahi added. “We see tremendous potential in the commercial application of floating offshore wind technologies.”

The partnership also consists of a collaboration agreement which will enable the two companies to work together on clean energy technologies across several markets in the near future. Hywind Scotland is the second offshore wind partnership between Masdar and Statoil after the Dudgeon wind farm, a 402MW project also due to come on-stream by the second half of 2017. Dudgeon, Hywind Scotland and the 630MW London Array – currently the world’s largest offshore wind farm in operation – will bring Masdar’s gross renewable energy generating capacity in the UK to 1.06 gigawatts (GW), enough power to supply 6,600 homes and displace 63,000 metric tonnes of carbon dioxide each year. Masdar’s investments in wind energy also span projects in the Middle East




IFC to oversee Masdar solar project funding in Jordan Abu Dhabi’s renewable energy company Masdar has selected International Finance Corporation (IFC), a member of the World Bank Group, to oversee the funding of the largest solar power plant in Jordan.

The announcement follows the signing of a power purchase agreement (PPA) in October between Masdar and National Electric Power Company, Jordan’s state electricity provider, for the 200-megawatt (MW) photovoltaic plant. The facility, is being developed by the wholly-owned Masdar subsidiary Baynouna Solar Energy Company (BSEC), said a statement from the company. Masdar chief executive officer Mohamed Jameel Al Ramahi and

chief financial officer Niall Hannigan, signed a deal with Eric Becker, IFC manager of Infrastructure for the Middle East and North Africa (Mena) at the Abu Dhabi Sustainability Week today (January 18). Hannigan said: “Our partnership with IFC will ensure that this landmark project will be developed according to the highest standards of financial best practice, while illustrating the strength of investor confidence in renewable energy.” Expected to break ground later this year, the solar plant will be built 10 km outside the capital Amman. Once connected to the national grid, it will supply the annual power needs of around 110,000 homes and displace an estimated 360,000 tonnes of carbon dioxide emissions each year, it said. Becker said: “The region continues to face serious power shortages, and there is now even greater pressure on infrastructure services.” “We have been working with Masdar, a key partner, since 2013 and welcome this opportunity to further support the development renewable energy generation capacity across the region,” he added. The project follows the inauguration of the 117MW Tafila wind farm in Jordan in December 2015, the Middle East’s largest onshore wind power development. Masdar has a 31 per cent stake in Tafila with InfraMed (50 per cent) and EP Global Energy (19 per cent). The combined output of Tafila and the Baynouna solar project will account for nearly 18 per cent of the 1.8 gigawatts (GW) of renewable energy Jordan plans to install by 2020. Masdar’s Clean Energy division is a leading developer and operator of utility-scale, grid-tied projects; applications providing energy access to communities away from the electricity grid; and carbon abatement projects, it added. –




Qatar Shell, WorleyParsons sign 5-year EPCM service contract for Pearl GTL… Gulf Times

Qatar Shell has awarded a five-year contract to WorleyParsons for engineering, procurement and construction management (EPCM) services to the Pearl GTL plant.

The official contract signing ceremony, held at Qatar Shell’s offices in Doha, was attended by Michiel Kool, managing director and chairman of Qatar Shell Companies; Chris Ashton, WorleyParsons managing director (operations – Europe, Middle East and Africa) and Sheikh Faisal bin Jassim al-Thani, WorleyParsons Qatari partner.

Kool congratulated WorleyParsons on its first contract in Qatar with Shell and welcomed the company as a strong global partner capable of delivering the contract successfully.

Ashton thanked Shell for the opportunity to support Pearl GTL with the contract award and acknowledged the importance of the contract to WorleyParsons, stating, “We are proud to partner with Shell in Qatar and to support the world’s largest gas-to-liquids plant.”

Developed in partnership between Qatar Petroleum and Shell, Pearl GTL converts natural gas into a range of high-performing GTL products: From gasoil, kerosene and base oil to naphtha and normal paraffins for the petrochemicals industry. Pearl GTL is located in Ras Laffan Industrial City and made its first commercial shipment in June 2011.

Shell is the largest international investor in Qatar having invested $21bn over the past decade. QP and Shell have jointly delivered two of the largest energy projects in the world in Ras Laffan Industrial City. Pearl gas-to-liquids project is the world’s largest GTL plant and cements Qatar’s position as the GTL capital of the world.




PDO invites firms to unlock potential of Habhab heavy oilfield Oman Observer - Conrad Prabhu

Majority state-owned Petroleum Development Oman (PDO) is looking to partner with international oil and gas companies in harnessing the prodigious hydrocarbon potential of its Habhab oilfield – a large, heavy and very viscous oil accumulation located in south Oman.

Development of Habhab, a ultra-heavy oil reservoir where its hydrocarbon content is officially classified as bitumen, presents formidable technical challenges that test the boundaries of

Enhanced Oil Recovery (EOR) technologies currently deployed in the Sultanate.

Earlier this week, the company said it was inviting experienced exploration and production companies to unlock the production potential of the Habhab ultra heavy oilfield under a production sharing agreement. The objective of the sourcing exercise is a Field Service Agreement targeting the development of one billion barrels of stock tank oil initially in place (STOIIP) in the Habhab oilfield.

“The company wishes to invite oil and gas companies to participate in the sourcing exercise for the development and implementation of hydrocarbon production practices aimed at achieving the Maximum Economic Recovery of Habhab Oil in a part of its concession area in the Sultanate of Oman,” said PDO in a note to interested international players. “In brief, the Habhab oil is classified as bitumen. Enhanced oil recovery is required to produce the Habhab oil,” the company added.

The field, which was originally discovered in 1982, has an estimated 2.4 billion barrels of ultra-heavy crude, development of which has since proved a major stumbling block. However, in recent years PDO has

progressed steam and chemical injection pilots to try and unlock the potential of the field, with encouraging results. According to PDO, the bitumen is accumulated in a thinly laminated sandstone reservoir with an oil column thickness of approximately 100 metres with the reservoir depth starting at 1,550 metres. Initial oil saturation is around 50 per cent, the company said.

Plans for the development of Habhab, one of many strategic EOR projects lined up by PDO as key to achieving its long-term production goals, were briefly paused at the start of the fiscal crunch triggered by the slump in international oil prices two years ago.

With the launch of this week’s sourcing exercise, this “promising ultra-heavy oil opportunity” is back on the table again for implementation.




Iraq: GE wins $1.4bn power project contracts in Iraq General Electric (GE) has secured more than $1.4 billion in orders from Iraq’s Ministry of Electricity to set up power plants as well as provide technology upgrades and maintenance services. The announcement further strengthens GE’s collaborations in Iraq to support the country’s power infrastructure and meet the growing need for electricity. These new agreements that will add over two gigawatts (GW) of power and secure the delivery of ~1.75 GW of existing power to the national grid. As per the deal, GE will set up the Samawa and Dhi Qar Power Plants, adding 1,500 megawatts (MW) to the grid. In the first phase of the project, the company will install four 9E gas turbines in simple cycle at each site by 2018.

The second phase will entail the combined cycle conversion of the 9E units. GE will also be supplying advanced heat recovery steam generators (HRSG) and steam turbine technology besides serving as the engineering, procurement and construction (EPC) contractor for the projects. Under Phase II of the Power Up Plan – a plan with the Iraqi Ministry of Electricity (MoE) for critical electricity generation and maintenance projects throughout the country - GE will add over 580 megawatts (MW) to the national grid through upgrade and rehabilitation works at four power plants. Additionally, under Power Up Plan Phase II, the technology giant will sustain ~1.75 GW of existing power generation through the maintenance of 9E gas turbines across six different power plants in Iraq. The activities will help enhance the reliability and efficiency of Iraq’s installed base. Steve Bolze, president & chief executive of GE Power, said today’s announcement builds on GE’s successful delivery of more than 700 megawatts (MW) of additional power through existing power generation infrastructure to the national grid last year as part of the Power Up Plan’s Phase I.




The company is already working with regional and international institutions to facilitate financing to help the Government of Iraq execute these and other projects. Since 2016, it has helped the country secure $2 billion in financing for projects in the energy sector leveraging its global sourcing capabilities coupled with its strong relationships with lenders. Musaab Al-Mudarris, official spokesman, Iraqi Ministry of Electricity, said: "Today’s announcement with GE is another strong statement on our commitment to strengthen the nation’s power infrastructure. We are focused on delivering reliable, uninterrupted and efficient electricity supply for both residential and commercial use." "With demand for electricity increasing every year, a transformational approach is required that is led by new projects and technology upgrades," he noted. “We are pleased to be working in collaboration with the Ministry of Electricity to continue to help provide power to the people of Iraq,” said Bolze. “Using GE’s expanded portfolio of technologies and solutions, this project will provide more reliable and sustainable electricity for the country to help achieve better operations and higher levels of efficiency,” he added. GE has over 40 years of presence in Iraq, and supports the country’s infrastructure needs in power generation, oil & gas, water processing, aviation and healthcare, through diversified multi-business solutions and local presence.




Kenya: Tullow Oil announces Erut-1 oil discovery in Kenya Source: Tullow Oil

Tullow Oil has announced that the Erut-1 well in Block 13T, Northern Kenya, has discovered a gross oil interval of 55 metres with 25 metres of net oil pay at a depth of 700 metres. The overall oil column for the field is considered to be 100 to 125 metres.

The objective of the well was to test a structural trap at the northern limit of the South Lokichar basin. The Erut-1 well was drilled ten kilometers north of the Etom-2 well and shares important characteristics. Fluid samples taken and wireline logging all indicate the presence of recoverable oil. Erut-1 successfully shows that oil has migrated to the northern limit of the South Lokichar basin and has de-risked multiple prospects in this area which will now be considered in the Partnership’s future exploration and appraisal drilling programme.

The PR Marriott Rig-46 drilled the Erut-1 well to a final depth of 1,317 metres and will now move to the southern part of Block 10BB where it will spud the Amosing-6 appraisal well.

Tullow operates Blocks 13T and 10BB with 50% equity and is partnered by Africa

Oil Corp and Maersk Oil both with 25%.

'This is an exciting discovery from a bold exploration well that proves that oil has migrated to the northern limit of the South Lokichar basin.

This extends the known hydrocarbon limits of the basin beyond the successful Etom discovery into the underexplored northern part of the basin where we have several undrilled prospects. Following the scheduled appraisal wells at Amosing-6 and Ngamia-10, further exploration drilling of

this area is now being planned.'




US Oil Bosses See Shale Rebound Capping 2017 Price Surge by Rakteem Katakey

Top oil industry officials in Davos aren’t turning completely bullish just yet. Capping their enthusiasm is U.S. shale oil, which is likely to limit price increases and usher in a period of greater volatility. U.S. supply is already returning at $50 a barrel, Saudi Arabia Energy Minister Khalid Al-Falih and BP Plc Chief Executive Officer Bob Dudley said in Davos, Switzerland, on Tuesday. Higher prices will accelerate that process, according to International Energy Agency Executive Director Fatih Birol. “I expect U.S. production will start to increase again -- all the indications are there -- as a result of the higher prices,” Birol said. “Prices will go up, U.S. and other production will go up and put downward pressure on prices again. And up and down. We are entering a period of greater oil-price volatility.”

While oil has increased more than 20 percent since the Organization of Petroleum Exporting Countries decided to cut production to boost prices, it has also helped bring back more shale drillers, which have put 46 percent more rigs to work in the past six months. The slump of the past two years also forced drillers to become more efficient and operate at lower costs. “This means that while 2017 is starting out very bullish for oil, it may not end that way,” said Bjarne Schieldrop, chief commodities analyst at SEB AB bank in Oslo. “Physical delivery of oil will force the price back down again in the second half of this year.”




Drillers today are three times more productive than they were in 2013, Schieldrop said. They are also more flexible and can adjust production quickly in response to changing prices, according to Birol. Saudi Arabia’s Al-Falih welcomes higher U.S. output because future oil demand will require supply from all sources, he said in Davos on Tuesday. Yet, he also said there could be limits to the comeback. Most Prolific

“What is being tapped recently in North America are the most prolific” fields, he said, sitting in the audience at an session on energy in the Swiss ski resort. “As demand grows, they will go to the more expensive, more difficult, less prolific. They will find they need higher prices.” Production in the U.S. has increased by about 460,000 barrels a day, or 5.4 percent, in the past six months after falling by almost 600,000 barrels in the first half of last year. The Energy Information Administration last week raised its domestic output forecast for 2017 to 9 million

barrels a day from 8.78 million projected in December. That’s up from 8.89 million barrels in 2016. Output is projected to increase to 9.3 million barrels a day for 2018. “The U.S. oil producers, and Canadian producers and all over the world are adapting to doing better in a lower price environment and that has created a resiliency that we haven’t seen,” Kenneth Hersh, chairman of NGP Energy Capital Management, said in Davos. “U.S. unconventional has

increased about half a million barrels on a $50 base, whereas two years ago it was unthinkable oil production in the U.S. would increase at $50.” Shale Comeback Shale fields in the U.S. can break even at a wide range of oil prices. Some of Royal Dutch Shell Plc’s assets in the Permian area are profitable below $40 a barrel, Chief Financial Officer Simon Henry said Nov. 1. Others require much higher prices. Exxon Mobil Corp. said on Tuesday that it was paying as much as $6.6 billion to double its Permian Basin assets through the acquisition of companies owned by the Bass family of Fort Worth, Texas. “U.S. shale is coming back, but it isn’t roaring back at current prices of $50 to $55 a barrel,” BP’s Dudley said. “You do see the rig count coming back and there will be a market response there as well.” 7




U.S. ethane production, consumption, and exports expected to increase through 2018Source: U.S. EIA, Short-Term Energy Outlook January 2017 U.S. production of ethane is expected to increase from an average of 1.25 million barrels per day (b/d) in 2016 to 1.7 million b/d in 2018 according to EIA’s latest Short-Term Energy Outlook (STEO). Increased ethane production is expected to be consumed in the petrochemical industry domestically as well as exported to other countries.

Ethane is a hydrocarbon with two carbon atoms that may be present in raw natural gas extracted from the ground. In recent years, the amount of ethane contained in raw natural gas has exceeded U.S. demand and exports, so some ethane has been left in the natural gas provided to end users instead of being separated and marketed as a distinct product.

Increases in domestic consumption and exports of ethane are expected to support higher ethane prices relative to natural gas prices, which will encourage more ethane recovery from raw natural gas.

Ethane is used almost exclusively as a petrochemical feedstock to produce ethylene, a compound used in the creation of many plastics. Expansions at existing ethylene plants contributed to a 170,000 b/d increase in ethane consumption between 2013 and 2016.

By mid-2018, construction is expected to be completed at six new ethylene plants and one restarted plant, collectively capable of using 450,000 b/d of ethane feedstock. Most of these plants are designed specifically to use ethane without the ability to switch to other feedstocks. EIA




expects U.S. ethane consumption to increase by 310,000 b/d (26%) between the first quarter of 2013 and the fourth quarter of 2018 as these plants ramp up operations.

Source: U.S. Energy Information Administration, Short-Term Energy Outlook January 2017 and company announcements

Ethane exports are also expected to increase. Until December 2013, when the new Mariner West pipeline provided a route to the Canadian market by bringing Marcellus ethane from southwestern Pennsylvania through Ohio and Michigan to Ontario, Gulf Coast petrochemical plants were the only outlet for domestically produced ethane.

Since then, the completion of the Vantage pipeline project, which ships ethane to Canada, and of two marine export terminals have allowed ethane exports to expand to an estimated 130,000 b/d by the fourth quarter of 2016.

The first ethane export terminal in the United States, located at Marcus Hook, Pennsylvania, with an export capacity of 35,000 b/d, shipped its first ethane cargo in March 2016.




A second export terminal, located at Morgan’s Point, Texas, with a capacity of 200,000 b/d, shipped its first ethane cargo in September 2016. Morgan’s Point terminal is 90% contracted, and

exports are ramping up quickly. Although the first shipments out of Morgan’s Point went to Europe, the facility sent shipments to India in December and January.

The shipments to India were transported on two new very large ethane carrier (VLEC) vessels, which can hold up to three times as much ethane as existing ethane-shipping vessels.

These vessels are the first two of six VLECs

commissioned by Reliance Industries for transporting Gulf Coast ethane to their petrochemical plants in India. EIA’s Short-Term Energy Outlook forecasts exports to increase by 180,000 b/d between the fourth quarters of 2016 and 2018, as shipments ramp up at existing facilities.




NewBase 19 January 2017 Khaled Al Awadi

NewBase For discussion or further details on the news below you may contact us on +971504822502 , Dubai , UAE

Oil rises from one-week low, U.S. inventory data in focus By Naveen Thukral | SINGAPORE

U.S. oil on Thursday moved away from one-week lows touched the session before, with investors turning their attention to upcoming government data on U.S. inventories.

Sentiment in oil markets has been torn between expectations of a rebound in U.S. shale production and hopes that oversupply may be curbed by output cuts announced by the Organization of the Petroleum Exporting Countries (OPEC) and others.

The international benchmark for oil prices, Brent crude rose 51 cents, or 0.95 percent to $54.43 a barrel by 0321 GMT after closing down 2.8 percent in the last session.

U.S. West Texas Intermediate crude oil was trading up 46 cents at $51.54 per barrel, having dropped to a one-week low on Wednesday at $50.91 a barrel.

"Some bargain hunters are happy to pick up oil at the bottom of the range," said Ben Le Brun, market analyst at OptionsXpress in Sydney.

"We are just watching for the next catalyst which could come from OPEC, non-OPEC, U.S. shale producers, rig count and, of course, inventories...But still the market appears to be very range bound."

The market is awaiting weekly inventory data from the U.S. Energy Information Administration (EIA), due at 1600 GMT. It has been delayed by a day due to a U.S. public holiday on Monday.

Data from the American Petroleum Institute (API) showed U.S. crude stocks fell by 5.04 million barrels in the week to Jan. 13. Analysts had expected a decrease of 342,000 barrels.

Oil price special

coverage




OPEC said producer cuts agreed late last year should help stabilize the oil market in 2017, with the exporter group's output slipping and non-members complying with their production pledges. But the organization also pointed to the possibly of a rebound in U.S. output amid higher oil prices.

OPEC, excluding Indonesia, pumped 33.085 million barrels per day last month, according to figures the body collects from secondary sources, down 221,000 bpd from November, it said in a report on Wednesday. The figures showed the biggest reduction came from Saudi Arabia.

"However, we still expect the global oil market to move into a significant deficit in the first half of 2017."

The dollar, which influences moves in greenback-priced commodities, inched up against the yen and kept broad gains against other major peers.

Oil resumed gains after the biggest drop in more than a week as industry data showed U.S. crude stockpiles declined, while OPEC and other producing nations trim production to ease a global glut.

Futures rose as much as 1 percent in New York after sliding 2.7 percent on Wednesday amid a surge in the dollar. U.S. crude supplies fell by 5.04 million barrels last week, the American Petroleum Institute was said to report.

Government data Thursday is also forecast to show a decline. OPEC and 11 other producers are making “tremendous efforts” to cut output, according to the secretary-general of the Organization of Petroleum Exporting Countries.

Oil has held above $50 a barrel since OPEC and nations including Russia agreed late last year to trim supply by about 1.8 million barrels a day to reduce bloated global inventories. While




producers from Saudi Arabia to Iraq have signaled they’re implementing the reductions, the International Energy Agency predicted a rebound in U.S. shale output as prices rise. “There is clear evidence of a supply response from the U.S. but the market is full of optimism about the OPEC agreement,” said Michael McCarthy, chief market strategist at CMC Markets in Sydney. “We’re seeing a trading range being established and the support level is around $50 a barrel.” West Texas Intermediate for February delivery, which expires Friday, rose as much as 52 cents to $51.60 a barrel on the New York Mercantile Exchange and was at $51.49 at 12:42 p.m. in Hong Kong. Total volume traded was about 58 percent below the 100-day average. The contract lost $1.40 to $51.08 on Wednesday, the most since Jan. 9. The more-active March futures climbed 40 cents to $52.29. U.S. Stockpiles

Brent for March settlement added as much as 57 cents, or 1.1 percent, to $54.49 a barrel on the London-based ICE Futures Europe exchange. The contract dropped $1.55, or 2.8 percent, to $53.92 on Wednesday. The global benchmark traded at a premium of $2.07 to March WTI. Crude stockpiles at Cushing, Oklahoma, the delivery point for WTI and the biggest U.S. oil-storage hub, declined by 1.01 million barrels last week, the API reported Wednesday, according to people familiar with the data. Nationwide crude inventories probably fell by 1 million barrels last week, according to a Bloomberg survey before Energy Information Administration data.




NewBase Special Coverage

News Agencies News Release 19 Jan. 2017

Electric cars to account for 90% of vehicles 20% of households to run on solar energy by 2020 Gulf news - Staff Report

Electric cars won’t be a novelty for long. By 2035, they are expected to make up 90 per cent of all vehicles as the use of clean energy becomes mainstream. And it’s not just that. About 20 years later, in 2053, instead of fumbling for a power outlet and a cable to charge electronic devices, people will be able to send and receive power, according to the State of the Future Report, which was released on Wednesday by the UAE at the World Economic Forum in Davos.

“We will have the ability to send power as easily as we can send data, so every device can be powered from a cellular array. It could power someone else’s cell phone across the road, so all of our energy production will be completely decentralised,” the report said.

UAE: TESLA Owners of the Tesla Model

S show off their vehicles outside an Abu

Dhabi-based shopping mall




But even 15 years prior to that, clean energy will be more abundant, with electricity generated from renewable sources expected to be greater than the current combined demand of China, India, and Brazil — three of the world’s most populous countries. Twenty per cent of households will run on solar energy by 2020.

Solar energy is also expected to become “as cheap as coal or as cheap as your regular utility bill” in the next five years. With subsidies, at least a third to half of states in the US will rely on it, the report said. In fact, such a drop in the cost of solar energy will result in “dramatic solar growth,” and solar panels may even be rolled out on just about every surface.

Stricter governmental policy

Energy consumption will also drop, as global demand for energy is expected to peak by 2030.

“New technology and stricter governmental policy will cause energy consumption to begin to fall across the fields of transport, heating, and electricity,” the report said.

Another sector expected to witness significant growth is technology, with the augmented reality/virtual reality industry expected to be a $150 billion market by 2020.




The report, launched by the Dubai Future Academy, was prepared in collaboration with 21 experts from organisations that include Nasa, New York University Langone Medical Centre, Massachusetts Institute of Technology (MIT), ConsenSys, and the SENS Research Foundation.

It aims to educate all stakeholders on the efforts needed to build a bright future for the UAE and the world, as well as propose solutions to challenges facing the world.

Factbox: iRobot

The State of the Future Report said that the increasing use of artificial intelligence in daily life will lead to machines committing a majority of crimes by the year 2040.

By 2042, artificial intelligence will play a major role on companies’ boards of directors and will be making many of their financial decisions. Half of the global workforce will be automated.

“There is going to be a blurring of the lines between humans, robots and AI and there will be a larger form of life,” according to Alex Lightman, and futurist and co-author of the report.




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Khaled Malallah Al Awadi, Energy Consultant

MS & BS Mechanical Engineering (HON), USA Emarat member since 1990 ASME member since 1995 Hawk Energy member 2010

Mobile: +97150-4822502 [email protected] [email protected]

Khaled Al Awadi is a UAE National with a total of 25 years of experience in the Oil & Gas sector. Currently working as Technical Affairs Specialist for Emirates General Petroleum Corp. “Emarat“ with external voluntary Energy consultation for the GCC area via Hawk Energy Service as a UAE operations base , Most of the experience were spent as the Gas Operations Manager in Emarat , responsible for Emarat Gas Pipeline Network Facility & gas compressor stations . Through the years, he has developed great experiences in the designing & constructing of gas pipelines, gas metering & regulating stations and in the engineering of supply routes. Many years were spent drafting, & compiling gas transportation, operation & maintenance

agreements along with many MOUs for the local authorities. He has become a reference for many of the Oil & Gas Conferences held in the UAE and Energy program broadcasted internationally, via GCC leading satellite Channels.

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New base 989 special 19 january 2017 energy news