Rigzone Ranks the Top 10 Oil & Gas Cities in the World
The glitziest of the seven emirates in the United Arab Emirates on the Arabian Peninsula, Dubai has aptly been called the "City of Gold." The city's gleaming – and expanding – skyline reflects the luster of the city's booming economy, which has provided opportunity to people of various nationalities and walks of life. Dubai's newcomers, in turn, have transformed the city into much more than a major hub for the oil and gas industry.
Energy Impact
Although Dubai is located in the country that boasts some of the world's largest oil and natural gas reserves, its bounty of hydrocarbon resources pales in comparison to those of neighboring emirate Abu Dhabi. Nevertheless, Dubai has been an offshore oil producer since the 1966 discovery of the Fateh field in the Persian Gulf. In addition to Fateh, other key offshore fields developed by national oil company Dubai Petroleum Establishment (DPE) have included South West Fateh, Falah and Rashid. In February 2010, DPE made another significant offshore discovery that is currently under development: the Al Jalila oil field.
Aside from DPE, E&P companies such as Dragon Oil, drilling contractors such as KCA Deutag Drilling Inc. and Odfjell and service companies such as Halliburton Co. and Wood Group are among oil and gas industry players maintaining a significant presence in Dubai. Wealth generated from the oil and gas industry has spurred aggressive economic diversification measures in Dubai. Having leveraged its business-friendly climate, cultural openness and accessibility to markets in Africa, Asia and the Middle East, the city has become a major hub for finance, real estate and construction, retail, international trade and tourism.
City Highlights
Located in an area with evidence of human habitation dating back to the Bronze Age, Dubai traces its more recent origins to a 17th century Portuguese settlement. From the beginning, the remote outpost on the Persian Gulf was destined to be a cosmopolitan place. Dubai's residents supported themselves by fishing, pearl diving and trading with outsiders from India, Portugal, France, the Netherlands and Great Britain. The city's profile in international shipping began to rise in the 1890s when Sheikh Maktoum bin Hasher made Dubai a tax-free port. For several decades, Dubai prospered as a trading hub. Since gaining independence from the United Kingdom in 1971, Dubai's fortunes have continued to rise. The emirate's economic development has been particularly robust since the 1990s.
Today, more than 2 million people representing scores of nationalities live in the emirate. Expatriates outnumber native-born "Emiratis" by a comfortable margin in Dubai and make up a clear majority of its workforce. Some of the larger expatriate groups in Dubai include natives of Bangladesh, Egypt, India, Iran, Jordan, Lebanon, the Philippines, South Africa, the United Kingdom and the United States. Arabic is the official language of the UAE, but English, Hindi, Tagalog and other languages are widely spoken as well.
Dubai's tradition of welcoming outsiders extends to leisure travelers, and the city has cultivated a reputation as one of the world's leading vacation destinations. Many visiting families enjoy relaxing on Dubai's white sandy beaches, frolicking at a water park or even hitting the slopes at the Middle East's first indoor ski resort. Travelers can also go "dune bashing" in a desert safari tour, topping off the experience with camel rides, a barbecue dinner and a belly dance performance. Sports enthusiasts can enjoy horse or Formula 1 racing, cricket, field hockey, soccer and even American football. Art and history buffs can also check out Dubai's rich assortment of galleries and museums.
Located at an intersection of major trade routes, Dubai is also a shopper's paradise that caters to a broad array of tastes and budgets. Bargain-hunters flock to the city's souks and shopping malls in search of jewelry, rugs, spices, clothing, kitsch, furniture and virtually any other item imaginable.
Shopping and other leisure pursuits can make one hungry, and Dubai boasts a vast assortment of local and international cuisines to suit any palate and budget. When it's time to call it a night, travelers can stay at what has been billed as the world's only 7-star hotel: the Burj Al Arab. If one's budget demands more modest accommodations, there are tens of thousands of hotel rooms at dozens of other establishments – with many more under construction – to suit a wide range of lodging needs.
Author: Matthew Veazey