UAE oil company to raise 28.5% production capacity by 2017
www.chinaview.cn 2008-12-02 15:11:42   Print

    ABU DHABI, Dec. 2 (Xinhua) -- The Abu Dhabi Company for Onshore Oil Operations (ADCO) of the United Arab Emirates (UAE) will raise its oil production capacity by 28.5 percent to 1.8 million barrels per day (bpd) by 2017, local newspaper Gulf News reported on Tuesday.

    "ADCO will respond to the Supreme Petroleum Council guidelines by raising its sustainable production in incremental steps, to up to 1.8 million barrels per day by 2017," the company's general manager Abdul Munim Al Kindi was quoted as saying.

    According to Kindi, ADCO will see increases in its production capacity of 197,000 bpd by 2013, 94,000 bpd by 2014, and 133,000 bpd by 2017 respectively.

    ADCO is owned 60 percent by the government-controlled Abu DhabiNational Oil Company (ADNOC) and 40 percent by international oil giants like BP, Shell, Total and ExxonMobil.

    It operates onshore and in shallow coastal water of the emirate of Abu Dhabi whose proven crude oil reserves stand at 92.2 billion barrels.     

Editor: Chris
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