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Article: UAE: Construction plans for proposed $2,000,000,000 oil production capacity expansion project, ABU DHABI NATIONAL OIL CO. (ADNOC) [UAE] - Order #: 098703.
- Article from:
- WWP- Report on Oil Gas & Petrochemicals in the Developing World
- Article date:
- September 1, 2003
CopyrightCOPYRIGHT 2003 Worldwide Projects, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PROJECT OVERVIEW:
The UAE produced some 1.99 million barrels of oil during the year 2002. In so doing, some $8,150,000,000 were invested in the sector between the years 1999 and 2002 of which most of the funds came from the state-owned ABU DHABI NATIONAL OIL CO. (ADNOC).
ADNOC, for that matter, is responsible for carrying out most of the expansion projects in the country. In so doing, the company has been collaborating with its Western and Japanese partners in major development works over the past decade. Hence, at this time, the UAE is proposing to invest more than $2,000,000,000 in order to raise production output up to 2.2 million barrels per year. ...