Oil Companies in Dubai: an overview
Dubai's own crude comes from offshore fields. Exploration began under a concession granted to Conoco in 1963, and the Fateh field was discovered in 1966 and began producing in 1969. Dubai Petroleum Establishment was created by decree in 2006 and took over operations from ConocoPhillips in 2007. It reports operating four major offshore fields and brought the Al Jalilah field into production in 2011.
Government-owned companies cover much of the value chain. ENOC, which is owned by the Government of Dubai, wholly owns Dragon Oil, a Dubai-based upstream producer with assets in Turkmenistan, Egypt and Iraq. Dubai Supply Authority (DUSUP) was formed in 1992 to buy and distribute natural gas and began receiving LNG through a floating regasification vessel in 2010. Emarat, established in 1981, runs service stations in Dubai and the Northern Emirates and sells commercial fuels, LPG and lubricants.
The emirate is also a regional base for international service, engineering and trading firms, many of them in free zones and business districts. Tidewater has its Dubai office in Jebel Ali Free Zone, and Monjasa and Kent are in Jumeirah Lakes Towers. TotalEnergies' Middle East marketing company is in Business Bay. Monjasa opened its Dubai office in 2006, and it is now the group's second largest. Some groups run their UAE business from Abu Dhabi instead. SLB's UAE contact office, for example, is on Al Reem Island.