From enhanced carbon capture at gas processing plants to grid modernisation and renewable energy storage, the technology reshaping the UAE’s oil and gas industry, has acquired a new dimension. As of the 2026, a significant portion of the research and development (R&D) behind it can be converted into a corporate tax credit of up to 50 percent under the country’s first dedicated R&D Tax Credit regime. According to Dhruva, a Ryan Affiliate, the opportunity for the energy sector is substantial, but the design of the regime rewards companies that act early and penalises those that treat it as a year-end exercise.

The regime was established by Cabinet Decision No. 215 of 2025 and made operational by Ministerial Decision No. 24 of 2026, issued on 18 March 2026. It applies to tax periods and fiscal years beginning on or after 1 January 2026, with the first claims expected in 2027. Credits are calculated on a tiered basis, rising from 15 percent to a headline 50 percent. Qualifying expenditure is capped at AED 5 million per qualifying entity or tax group per year, which produces a maximum credit of AED 2 million.

“The UAE’s energy transition has been told as a sustainability story and an investment story. From this year it is also a tax story. The work being undertaken to decarbonise hydrocarbon production, including enhanced oil recovery, carbon capture and storage, methane abatement, and the development of digital twins for processing plants, exemplifies the systematic, uncertainty-driven R&D that this regime is designed to reward. The catch is that the value sits in the documentation, and the documentation has to be built in real time. You cannot retrospectively reconstruct a year’s worth of R&D evidence in 2027,” said Nimish Goel, Leader, Middle East, Dhruva, Ryan LLC Affiliate.

For an industry as engineering-intensive as oil and gas, the central question is not whether qualifying activity exists. It is whether companies can tell the difference between routine engineering and genuine R&D, and prove it. Applying an established recovery method to a new reservoir does not, in itself, qualify. By contrast, systematically resolving technical uncertainty, whether relating to reservoir behaviour, materials performance under high-pressure conditions, the capture of CO₂ from sulphur recovery flue gas, or the integration of new digital control systems,  may qualify, provided the systematic experimentation and its outcomes are documented as the work is carried out.

“Two features will catch international energy companies off guard. Only R&D performed inside the UAE qualifies, and subcontracted R&D counts only when it is carried out by UAE-based third parties. Much of the sector’s historical R&D has run through global technology centres and group affiliates abroad. Companies will need to look hard at where their R&D actually physically takes place, before they assume they qualify,” said Fran Wilhelm, Associate Partner, Dhruva, Ryan LLC Affiliate.

The regime’s defining feature is a dual threshold that links the credit rate to both qualifying spend and headcount. The first AED 1 million of qualifying spend earns 15 percent and requires at least two R&D staff on average; spend between AED 1 million and AED 2 million earns 35 percent and requires at least six; and spend between AED 2 million and AED 5 million earns the top 50 percent rate and requires at least fourteen. Both conditions must be met for each band. Where the headcount falls short, the claim drops back to the highest band where both the spend and the staffing tests are satisfied. A minimum of AED 500,000 of qualifying expenditure applies to each R&D project.

This is where oil and gas companies face a structural choice that other sectors may not. R&D in the industry is often capital-intensive rather than people-intensive: a single carbon capture or enhanced oil recovery pilot can absorb millions in equipment and consumables while employing only a handful of dedicated researchers. Under the dual threshold, that profile caps the credit at the lowest band regardless of how much is spent. Reaching the higher rates means building R&D headcount physically in the UAE.

Pre-approval from the Emirates Research and Development Council is mandatory before any credit can be claimed, with no exceptions. No pre-approval means no credit, however strong the underlying scientific or technological uncertainty. Businesses must keep detailed technical records of objectives, methods, experiments and outcomes for at least seven years. The credit is also currently non-refundable, so it benefits companies that have a corporate tax or top-up tax liability to offset, which describes most established producers and service contractors in the sector. That said, it has been suggested that Phase 2 may include a refundable credit and an increase in both application and generosity, meaning all businesses should start planning ahead, irrespective of their tax position.

“Companies that map their qualifying projects now, secure pre-approval and build the evidence trail through the 2026 financial year will capture real value when claims open in 2027. Those that wait will find that the spend was eligible but the proof was never created. In this regime, the documentation is the asset,” concluded Nimish Goel.

Qashio, the MENA region’s leading spend management solution, is rewarding its UAE customers with exclusive FIFA World Cup 2026™ fan experiences, including premium viewing access, interactive competitions, and hospitality benefits at Emirates Golf Club’s Footy Central in Dubai. The initiative gives customers the opportunity to experience a dedicated football watch party destination during the world’s biggest football tournament.

Running from 11 June to 19 July 2026, Footy Central will screen live matches alongside themed F&B, interactive games, family-friendly activities, competitions, and matchday entertainment. The programme builds on the global appeal of football’s premier event, which reached more than five billion viewers across all platforms during its previous edition, and reflects Qashio’s value proposition beyond spend management by turning client loyalty into tangible rewards and premium benefits.

The campaign will unlock exclusive access to selected matchday rewards and fan activations for Qashio customers, including F&B vouchers, matchday credits, Viya Points, gaming rewards, and VIP hospitality experiences. Viya Points, the digital reward currency within the Viya App ecosystem, can be redeemed across a premium lifestyle network of 400 venues, extending the value of the campaign beyond the matchday.

Guests can participate in the Ronaldo Header Challenge, where they can test their heading accuracy, while the FIFA Console Zone will host the PS5 FIFA Esports Challenge: Road to the Cup, with guests competing in head-to-head matches for leaderboard positions and daily rewards. Half-time engagement will include lucky draws during key matches, alongside Predict & Win competitions that reward guests for accurate match predictions.

Armin Moradi, CEO and Founder of Qashio, said: “Football is the most popular sport in the UAE among both Emiratis and the broader expat population, which makes the FIFA World Cup 2026™ a powerful moment to celebrate with our customers. Qashio was built to help businesses manage spend with more control and value, and this campaign extends that promise by turning loyalty into memorable experiences for finance leaders and teams across the country.”*

The FIFA World Cup 2026™ customer rewards campaign reflects Qashio’s broader approach to building a spend management platform that combines financial control with meaningful customer engagement. Through rewards, activations, competitions, and hospitality benefits, Qashio is continuing to create value for businesses beyond transactions, while giving customers new ways to engage with one of the most anticipated sporting events in the world.

For more information on the Footy Central experience and partnership opportunities, visit the link.

As UAE residents prepare for summer holidays, international travel and seasonal relocation, Vintage Vaults, Dubai’s premium safe deposit box facility at Mall of the Emirates, is highlighting the importance of secure private vault storage for valuables, documents and high-value personal assets.

From jewellery and luxury watches to family heirlooms, legal documents, precious metals and collectibles, extended periods away from home can heighten concerns around security, accessibility and long-term protection. For residents, expatriates, investors and frequent travellers, secure storage during travel in the UAE has become an increasingly important part of responsible asset protection.

Vintage Vaults provides private safe deposit box rental in Dubai for individuals, families, collectors and business owners seeking a modern, discreet and service-led alternative to conventional safety deposit boxes. Combining advanced security infrastructure with premium client experience, the facility has been designed for clients who value privacy, convenience and peace of mind.

Located within Mall of the Emirates, Vintage Vaults offers client access during mall operating hours, 365 days a year. The facility operates within a 24/7 monitored security environment supported by UL-certified vault infrastructure, biometric authentication, controlled access systems, AI-powered surveillance, CCTV monitoring, motion detection technology and advanced alarm systems. It is also directly connected to Dubai Police and SIRA-linked monitoring systems, further strengthening its security framework.

Clients can choose from seven safe deposit box sizes ranging from XXS to XXL, accommodating a wide variety of assets including jewellery, watches, gold, cash, legal documentation, family archives, artwork and collectibles. Every box comes with complimentary insurance coverage, with protection of up to AED 2 million depending on the selected membership tier.

“Dubai has become home to a growing number of individuals and families who have accumulated significant personal and financial assets over the years,” said Sherif El Haddad, Founder and CEO of Vintage Vaults. “At the same time, we are seeing greater mobility, with people travelling more frequently, spending extended periods abroad, relocating between countries or managing assets across multiple markets. Accordingly, secure storage is becoming an essential part of responsible asset management, particularly during periods when people are away from home.”

Vintage Vaults offers three membership categories — Silver, Gold and Black — providing varying levels of insurance coverage, security features, box access nominees and premium services. Clients also benefit from private consultation and access rooms designed to maintain discretion, alongside a multilingual team trained in security, privacy, client service and asset protection.

For clients requiring additional support, the facility offers premium services including chauffeur arrangements, armoured transportation and bodyguard assistance, creating a comprehensive asset protection ecosystem tailored to high-value holdings.

According to Imran Shoukat Khan, Co-founder and Managing Partner of Vintage Vaults, demand for private vault services is being driven by a broader shift in how residents and expatriates think about protecting their assets.

“Today’s clients expect more than storage. They want confidence that their valuables are protected by robust infrastructure, supported by technology and managed with complete client discretion,” said Imran. “Whether someone is travelling for several weeks, relocating internationally or safeguarding assets for future generations, secure private vault facilities provide essential storage with , protection against theft, damage or loss along with peace of mind.”

The summer season presents a timely opportunity for UAE residents and expats to review how their valuable possessions are stored and protected. For many, a safe deposit box in Dubai offers a practical solution for securing jewellery collections, investment-grade precious metals, luxury watches, important family documents and sentimental heirlooms before extended travel or temporary relocation.

As one of the few independent private safe deposit box operators in the UAE not affiliated with a bank, Vintage Vaults offers a level of discretion, flexibility and service that traditional banking institutions may not provide. By combining advanced security standards, complimentary insurance coverage, flexible storage options and premium client services, Vintage Vaults continues to provide a trusted destination for clients seeking long-term asset protection in one of the world’s most dynamic wealth centres.