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Abu Dhabi National Oil Company said it will work with Exxon Mobil (NYSE:XOM) and Japan’s Inpex to expand the production capacity of the Upper Zakum field, the world’s second-largest offshore oilfield, UpstreamOnline.com reported Monday.
ADNOC said it is expanding the capacity of some of its largest offshore oilfields as part of its P5 program, which aims by 2027 to ramp up its oil production capacity to 5M bbl/day from 4.85M bbl/day currently; its OPEC+ quota would allow it to pump slightly less than 3.1M bbl/day in June.
The new development plan at Upper Zakum “will upgrade the oilfield’s infrastructure to include AI-enabled remote operations, receive power from the UAE’s clean energy grid to reduce emissions and enable the use of artificial islands for drilling activities to enhance environmental protection,” Inpex said.
The United Arab Emirates is in the midst of a $150B spending plan focused primarily on raising crude production capacity and making the country self-sufficient in natural gas.