Emirati oil production could increase by 1 million barrels per day

Oil production from a field tapped from artificial islands off the Emirati coast could jump to 1 million barrels per day by 2024, partners said Tuesday. Abu Dhabi National Oil Co. announced with its operating partners, the regional subsidiary of Exxon Mobil and Japan’s INPEX Corp., plans to increase the design capacity from the Upper Zakum oil field offshore to 1 million bpd by 2024. Previous plans called for an increase from 500,000 bpd to 750,000 bpd in the next few years. Discovered in 1963, production is supported by infrastructure on a network of artificial islands over what’s the fourth largest oil field in the world. The companies said the enhanced capacity would come from new extended-reach drilling and […]

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