Japan’s largest upstream company Inpex is expected to lift more Abu Dhabi equity oil in April in line with the United Arab of Emirates’ (UAE) policy of increased oil production of up to 4 billion barrels per day (bbl/d), according to S&P Platts.
Saudi Arabia and the UAE are the only two Gulf OPEC producers to publicly announce plans for major supply ramp-up and production capacity boosts.
Inpex has a 5% stake in ADNOC Onshore, and 12% in Upper Zakum. The offshore Upper Zakum concession is expected to ramp up by 100,000 bbl/d to 750,000 bbl/d this year.
Inpex’s 2020 production is forecast to increase to 608,000 barrels of oil equivalent per day (boe/d), up from last year’s record production of 586,200 boe/d.