Abu Dhabi National Oil Co., or Adnoc, plans to expand its crude oil production capacity to 3.5 million barrels a day from 2.5 million barrels a day now over the next decade to meet rapidly rising global oil demand, the company's chief executive said, according to an Adnoc publication.
As part of the plans, Adnoc will develop several new fields including Upper Zakum, Umm Shaif, Nasr, Sarb and Ghasha Butini, chief executive Yousef Omair Bin Yousef said in an interview with Adnoc News.
The state-run oil firm will carry out nine mega projects in the oil and gas sectors over the next three years, Yousef said in the interview.
The projects include the Asab full field development, the Qusahwira development, the Bab Thamama G and Habshan 2 developments, the Bida Al Qemzan, IGD Integrated Gas and Habshan 5 developments, the Ruwais third natural gas liquids, or NGL, train, and the Asab 2 and Habshan 4 developments, Yousef said.
The U.A.E. is the Middle East's third-largest crude producer.
Adnoc is also in the final stages of evaluating bids for the large-scale sour gas scheme aimed at developing existing natural gas reserves, Yousef said without providing further details.
Adnoc will also implement the Borouge 2 petrochemical project, which will be operational in the third quarter of 2010, according to the interview. Borouge is a joint venture between Adnoc and Vienna-based Borealis.
In addition, Adnoc plans to carry out the Fertil expansion project and a melamine plant in the next five years, Yousef said.
Fertil, a joint venture between Adnoc and France's Total S.A., is currently producing 1,300 tons a day of ammonia and 1,800 tons a day of urea. The upgrade of the Fertil urea project will convert 90,000 tons a year of ammonia surplus to urea to supply the melamine plant among other purposes.
The urea debottlenecking project, known as UDP, will come on stream during the third quarter of 2009.
Once complete, the UDP project will produce 2,700 tons a day of urea solution.