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UAE's ADNOC Announces Three New Oil Discoveries

UAE's ADNOC Announces Three New Oil Discoveries

Friday, 20 May, 2022 - 08:30
Some of the pipelines in the Bu Hasa, Abu Dhabi’s biggest onshore field. (WAM)

Abu Dhabi National Oil Company (ADNOC) announced Thursday three oil discoveries including one at Bu Hasa, Abu Dhabi’s biggest onshore field, with a crude oil production capacity of 650,000 barrels per day (bpd).

The discovery in Bu Hasa includes 500 million barrels of oil from an exploration well in the field, the company said in a statement, adding that the discovery offers “substantial additional premium-grade Murban oil resources.”

ADNOC said the second oil find was in Abu Dhabi’s Onshore Block 3, operated by Occidental, and around 100 million barrels of oil in place were discovered.

In the third discovery, around 50 million barrels of light and sweet Murban-quality crude were found in the Al Dhafra Petroleum Concession, ADNOC added.

The discoveries were unveiled during a meeting of the Executive Committee of ADNOC’s Board of Directors chaired by Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, member of the Abu Dhabi Executive Council and Chairman of the Abu Dhabi Executive Office.

Interlocutors met at ADNOC’s headquarters and reviewed the company’s performance and strategic goals.

Sheikh Khaled commended the company for its collaborative approach with its partners, which would ensure that the UAE remains a reliable supplier of some of the world’s least carbon-intensive oil for decades to come.

He also gave directives to explore new clean energy partnerships, including clean hydrogen, as part of the company’s ambitious growth plans in the field, and to help support the energy transition.

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