Abu Dhabi Company For Onshore Oil Operations (ADCO), a subsidiary of Abu Dhabi National Oil Company (ADNOC), has officially started production from Qusahwira Oil field, according to Abdul Munim Saif Al-Kindy, chief executive officer of ADCO.
Al-Kindy, who was speaking on the sidelines of the Abu Dhabi International Petroleum Conference and Exhibition (ADIPEC) held in Abu Dhabi, United Arab Emirates, said the company started production Nov. 6, with initial production capacity of 30,000 barrel of oil per day. The development cost of the project is about $ 1 billon.
The company is also planning to increase the production capacity of the project in the next 5 years.
“We are expecting to increase the production capacity to 53,000 barrel per day by 2017,” Al-Kindy said.
Qusahwira field located approximately 162 miles (260 kilometers) south of Abu Dhabi city, and about 50 miles (80 kilometers) southeast of ASAB field. The field is part of South East Asset that contributes to almost one-third of ADCO's daily production. It covers an extensive area of 2,905 square miles (7,525 square kilometers) in a difficult terrain. SE has 5 major fields which include ASAB, Shah, Mender and Sahil.
The field is part of the new company’s strategy that aims to increase crude oil production to1.8 million barrel of oil per day by 2017 from current 1.6 million barrel of oil per day.
WHAT DO YOU THINK?
Click on the button below to add a comment.
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
Most Popular Articles
From the Career Center
Jobs that may interest you