United Arab Emirates' Energy Minister Suhail al-Mazrouei said on Nov. 23 the latest oil discoveries are part of state-owned Abu Dhabi National Oil Co.'s efforts to increase production capacity to 5 million barrels per day (MMbbl/d) by 2030.
The UAE on Nov. 22 announced the discovery of two billion barrels (Bbbl) of conventional oil reserves and 22 Bbbl of unconventional oil reserves.
The discoveries “reflect the constant development operations carried out by ADNOC in its endeavor to reach its target of increasing oil production capacity to 5 MMbbl/d by 2030,” Mazrouei said on his ministry’s Twitter account.
Recommended Reading
Electricity and LNG Drive Midstream Growth as M&A Looms
2024-09-26 - The midstream sector sees surging global and domestic demand with fewer players left to offer ‘wellhead to water’ services.
Finding a Niche: Midstream Giants Target Private G&P Assets
2024-10-23 - Smaller, non-publicly owned midstream companies are moving quickly for a position in a consolidation-driven market.
Energy Transfer Leads the Midstream Consolidation Flow
2024-10-01 - Energy Transfer co-CEOs discuss pipeline pain points, needed M&A, regulatory woes and much more in this Midstream Business exclusive.
Analysts: A Growing Bakken Will Require a Stronger Pipeline Network
2024-11-06 - East Daley looks at potential courses as the basin continues to increase production.
East Daley: Deals Continue ONEOK’s Climb to Midstream Elite
2024-11-13 - Mergers with EnLink and Medallion lift the company into the ranks of Energy Transfer and Enterprise Products Partners.