 Abu Dhabi National Oil Company (ADNOC) is pumping about 1.5 million barrels of crude a day from its main onshore fields and is halfway through a planned $40 billion investment plan, company officials said, reported Bloomberg news.
The state-owned energy producer has boosted capacity at its largest land-based deposits to about 1.6 million barrels daily from 1.4 million before the expansion, Fareed Abdulla, senior vice president at Abu Dhabi Company for Onshore Oil Operations (ADCO) told the news agency.Â
The ADCO venture will raise overall capacity to 1.8 million barrels a day by the end of 2017, he said.
Abu Dhabi will also raise its gas production with the Bab field that was awarded to Shell earlier this year. Shell lclinched the US$10 billion deal to develop Bab, the second sour gas project in Abu Dhabi. An interim agreement between Adnoc and the Anglo-Dutch major outlines the parameters of development.
The focus is now on the front end engineering and design (feed) stage, where the technical requirements and costs are determined.
“Very soon we will select a consultant to help us with the pre-feed and feed contracts,” said Mohammed Sahoo Al Suwaidi, the director general at Adnoc’s Gas Directorate, said recently.
Also, according to the latest CAPEX report by Contax partners, the UAE is leading in projects handed out in the first half of the year. The country is marching ahead of its peers in boosting oil and gas production.
