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The UAE has come a long way from the time the first oil well was struck and crude became the country's most important commodity, bringing wealth and prosperity to its people.

Now, 50 years on, the country is looking ahead to the next half a century, where hydrocarbons will no longer be the mainstay of the world economy.
The UAE is innovating along with other regional and global producers to diversify its assets, improve efficiency, turn to renewables as an alternative source and grow into a world leader in developing hydrogen.

Oil and gas, however, remain critical to the development of the country, with Abu Dhabi National Oil Company, the state energy giant, continuing to invest in developing hydrocarbon resources.

The UAE accounts for about 4 per cent of global oil production, with the bulk of the output from fields owned and managed by Adnoc. The country is also on track to raise its overall capacity of production to 5 million barrels per day by 2030.

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