SETTING UP OIL & GAS COMPANY IN ABUDHABI
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SETTING UP OIL AND GAS COMPANY IN ABUDHABI

Establishing any business in Abu Dhabi typically follows the same procedure. But we have highlighted the fundamental steps below.

  • Determine the legal form and activities of the business
  • Registration of trade name and obtain initial approval
  • Arrangement of office lease
  • Apply for trade name and regulatory approvals
  • Obtain trade license from DED
  • Register the company with labor and immigration
  • Open the corporate bank account
  • Apply for the employee visas if any

Oil and gas industry is highly regulated within the UAE. There are two important factors for the investors to consider such as Supreme Petroleum Council Approval and Onshore Registration.

The Supreme Petroleum Council

The Supreme Petroleum Council are the senior authority for the regulation of the petroleum industry in Abu Dhabi, responsible for formulating and overseeing the successful implementation of the Emirate’s petroleum policy. The Supreme Petroleum Council also assume responsibility as the Board of Directors for ADNOC (Abu Dhabi National Oil Company) and the Petrol Department. All operating companies or foreign shareholders of oil enterprises in the emirate must abide by the provisions of this law.

Obtaining Supreme Petroleum Council Approval (SPC Approval – Oil & Gas)

Supreme Petroleum Council Approval is also required for the companies in order to obtain the relevant permits from the Critical Infrastructure and Coastal Protection Authority (CICPA) to have access to the oil fields.

Onshore Registration

The companies who are into oil and gas industry has to be registered as onshore in Abu Dhabi either as Limited Liability Company or as a branch of foreign company.

 

Danburite Corporate have assisted in the successful set up of numerous companies within the oil and gas sector of Abu Dhabi, our expert team have vast knowledge to guide you through the Supreme Petroleum Council Approval process quickly and efficiently, and ensure that your business can trade both legally and securely.

For more details please reach out to our experts at info@danburite.ae Contact: 00971568080092

 

 

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