State-owned Abu Dhabi National Oil Company (ADNOC) is pumping about 1.5mn b/d from its main onshore oil fields, and is in the middle of a $40bn investment plan, it announced this week.
Abu Dhabi’s production capacity from its main onshore producing fields – operated by Abu Dhabi Company for Onshore Oil Operations (ADCO) – is about 1.6mn b/d, a senior ADCO official said. Farid ‘Abd Allah, ADCO’s senior vice president said the target is still 1.8mn b/d by end-2017. MEES understands this target is more likely to be hit in 2018-19, after which ADCO is considering a further boost to 2mn b/d (MEES, 17 May). (CONTINUED - 316 WORDS)