The United Arab Emirates is advancing in the project to bring its oil production to five million barrels per day by 2030.
The Abu Dhabi National Oil Company (ADNOC) announced Thursday the discovery of oil fields in different parts of that emirate, where the capital of the United Arab Emirates, Abu Dhabi, is also located.
According to the state company, the recent findings represent approximately 650 million barrels of oil . This includes around 500 million barrels discovered in Bu Hasa, considered the largest oil field in Abu Dhabi.
Likewise, another 100 million barrels of crude were found in Block 3, which has been operated by the US company Occidental Petroleum Corporation since 2019, in addition to 50 million barrels in the Al Dhafra Oil Concession.
We are proud to announce multiple onshore oil discoveries in place, totalling 650 million barrels of oil. pic.twitter.com/yPYII9Pn40
— ADNOC Group (@AdnocGroup) May 19, 2022
In February of this year, ADNOC had announced the discovery of around 59 million cubic meters of natural gas in the Block 2 Exploration Concession, which has been operated since 2019 by the Italian energy company Eni.
According to local media, ADNOC is in charge of oil production in all of the United Arab Emirates. Thus, it is currently investing in development projects with the aim of increasing crude oil production capacity to five million barrels per day by 2030.