Abu Dhabi sets output goals

The government of Abu Dhabi has unveiled an economic plan which sees oil production capacity topping the previous target of 3.5 million barrels per day over the next decade.
The document, outlining the emirate’s development plans to 2030, did not say by how much capacity in the world’s fifth-largest oil exporter would exceed the target.
Officials have previously said the Opec member would pump 3.5 million bpd over the next 10 years. The plan gave no details of capacity plans beyond the next decade to 2030.
The emirate of Abu Dhabi produces most of the United Arab Emirates’ oil and holds more than 90% of its oil reserves.
Capacity stands at around 2.8 million bpd, although output is less due to production curbs agreed with Opec. The UAE pumped around 2.3 million bpd in December, according to an Opec survey, quoted by Reuters.
(Upstream Online)


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