The UAE fell short of meeting its target to raise oil production capacity from 2.8mn b/d to 3mn b/d by the end of last year, said UAE Oil Minister Muhammad al-Hamili on 9 January. It pumped 2.6mn b/d in December he told a forum in Abu Dhabi. He also revealed that the Hormuz bypass oil pipeline is delayed and admitted that the country is set to become a net gas importer – a sure sign that its gas crisis is deepening.
Abu Dhabi is also unlikely to hit its 2017 target of 3.5mn b/d crude production capacity until 2019 at the earliest, MEES understands (MEES, 21 December 2012). The original target was 3.5mn b/d by 2015. The Upper Zakum expansion plan to lift production capacity to 750,000 b/d in 2015 is now more likely in 2016-17. (CONTINUED - 730 WORDS)