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ExxonMobil achieves record oil production in UAE
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SPECIAL TO WORLD TRIBUNE.COM
Tuesday, October 19, 2004
ABU DHABI ø ExxonMobil said it produced 110,000 barrels per day of crude oil in Abu
Dhabi in 2003. The figure was highest since the company secured an onshore
concession in 1964.
A senior company executive said ExxonMobil would pursue other investment
opportunities in Abu Dhabi, including increased recovery of crude oil and
natural gas. The executive also cited company programs for the training and
development for UAE nationals.
ExxonMobil holds a 9.5 percent stake in the
Abu Dhabi Co. for Onshore Oil Operations, or ADCO, and has bid for a share
of Zakum Development Co., Middle East Newsline reported.
"The Middle East is getting larger and larger in the global oil and gas
sector with exploration opportunities increasing in the region," Richard
Brown, Middle East area manager of ExxonMobil, said. "We will continually
enhance investments in this region and by 2010 at least 20 percent of our
upstream investments will be in this region."
Copyright © 2004 East West
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