According to Director-General of the Abu Dhabi National Petroleum Company (ADNOC), Dr. Sultan Ahmed Al Jaber, the United Arab Emirates is about to achieve the production capacity of 4 million barrels of oil per day (bpd) up to 2020. The statement was made on Monday, 9, during the opening of the 24th World Energy Congress.
"We are on track to achieve our production capacity targets of 4 million barrels of oil per day up to 2020 and 5 million in 2030. In parallel, leveraging gas hubcaps, undeveloped reservoirs and unconventional resources, we are unlocking vast reserves of natural gas, "said Dr. Sultan Ahmed Al Jaber.
The United Arab Emirates produces about 4.2% of the world's oil production, where most of the oil fields belong and are operated by ADNOC, according to BP Statistical Review of World Energy. The country, which fulfills a global pact to restrict fuel productivity to balance the international market, produced 3 million boed in July, according to information from cited secondary sources from OPEC (organization of exporting Countries of Oil).
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