Al Suwaidi, who is also the Chairman of the Company's Exploration and Development Department, said the projects were being implemented on the government's directives to sustain current output ceiling and increase it at carefully studied rates that conform to international approach to tackle the increase in demand for the commodity on the international market.
In an exclusive statement to the Emirates News Agency, WAM, on the fringe of the on-going Abu Dhabi International Petroleum Exhibition and Conference, ADIPEC 2004, Al Suwaidi said that ADNOC had prepared comprehensive plans and programs to increase its production capacity in accordance with a sustained strategy, adding that increasing oil production from Abu Dhabi wells was now very necessary in the light of high rise in production by member states of the Organization of Petroleum Exporting Countries, OPEC, to curb the current high surge in oil prices.
He disclosed that UAE's crude oil output currently stands at 2.5 million barrels per day (bpd). "But this will rise to 3 million bpd according to the plan and program," he said, adding that various scenarios had been drawn to raise Abu Dhabi oil production, including increasing the production capacity of the Abu Dhabi Company for Onshore Oil Operations (ADCO) from the current ceiling of 1.2 million bpd to 1.4 million bpd, while Abu Dhabi's offshore oil output capacity will also be boosted from the current 47,000 bpd to 600,000 bpd by the Abu Dhabi Marine Operating Company (ADMA-OPCO). This is to be achieved by using modern technology to develop the Upper Zakum field to increase its current output of about 550,000 bpd.
Al Suwaidi also disclosed his outfit's plan to develop Abu Dhabi's gas industry. He said Abu Dhabi Gas Industries Ltd. (GASCO) was currently undertaking the phase III of the development project of onshore gas field at Tamama, adding that tenders had been invited for the implementation of a project for the production of condensate.
The tenders would be opened and approved by the end of the year, he said, adding that 130,000 barrels of condensate would be produced when the US$1.2 billion-project is completed by the end of 2007.
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