Offshore Reserves to Account for 50% of Oil Production in Abu Dhabi
Off-shore reserves will account for approximately 50 per cent of the total oil production in Abu Dhabi by 2018 as a result of continued investments in production capacity, experts said, as the emirate gears up to host the Abu Dhabi International Petroleum Exhibition and Conference (Adipec) in November.
Abu Dhabi National Oil Company (Adnoc) is planning $25 billion (Dh91.83 billion) worth of investments in offshore oil projects over the next five years as part of the UAE’s strategy to boost its total oil output capacity to 3.5 million barrels per day (bpd) by 2017-18, up from the current 2.8 million bpd. Details
