OMV Begins Offshore UAE Oil Production

OMV Begins Offshore UAE Oil Production

Austrian OMV has started oil production from the Satah Al-Razboot (SARB) and Umm Lulu fields off the coast of Abu Dhabi, and expects to produce 25,800 barrels per day (b/d) before the end of 2018, Reuters reported.

The company will initially produce 10,000 b/d, and plans to increase production to 43,000 b/d by 2023.

OMV have held a 20% interest in the two oilfields since signing a $1.5 billion agreement with the UAE national oil company ADNOC in April 2018.


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