Mohammad Al Hamli, the UAE’s Minister of oil, has announced that the country is planning to increase oil production capacity to 3 million bpd from the current 2.8 million bpd in 2013, according to Dow Jones Newswires.
The country’s crude output was at 2.6 million bpd in December and it is currently producing at around the same level, said Hamli.
The UAE entered 2012 as the world’s eighth largest oil producer, producing an average volume of 2,813,000 barrels per day, and came out fourth in the top global exporters league, exporting around 81% of its total production.
Abu Dhabi is the largest Emirate by size, and home to around 95% of the nation’s oil, and 92% of its gas.
The Zakum oil system produces a large portion of the country’s oil, a collection of fields which together make up the third largest oil zone in the world.
The Upper Zakum field is run by ZADCO, 60% owned by ADNOC with the Japanese Oil Development Co. and ExxonMobil holding the remaining stakes.
The largest onshore oil fields are operated by ADCO. ADCO operates the Bu Hasa oil field, which produces as much as 600,000 barrels per day, as well as the Murban Bab, Sahil, Asab, and Shah oil fields, contributing another 705,000 bpd of light, sweet crude.
The Qusahwira and Bab fields are under development by ADCO, adding 250,000 bpd by 2014. ADCO will also redevelop Bida al-Qemzan, adding 20,000 bpd to its current production of 225,000 bpd by Q3 2012.
These projects are components of a plan to boost ADCO’s aggregate production to 1.8 million bpd from its current 1.4 million bpd by 2017.Â
Two new oil fields have also come into development: Nasr and Umm al-Lulu. These will add a further 170,000 bpd capacity by 2018, and are providing the local EPC and fabrication markets with a slew of new work.
