Largest sheikhdom in UAE aims to boost total output to 3.5m barrels a day by 2018
Abu Dhabi, holder of most of the oil reserves in the UAE, aims to double production and exports of liquid petroleum gas by 2015 as it boosts hydrocarbon output, an official said.
State-run Abu Dhabi National Oil Co aims to raise LPG production to about 15 million metric tons a year by 2015 from about 7.5 million tons expected this year, Abdulla Sultan Al Nuaimi, the company’s gas sales manager, said on the sidelines of a conference in the emirate today.
Adnoc, as the company is known, may supply about 2.5 million tons of LPG a year to Abu Dhabi state-run petrochemical producers as they expand operations, Al Nuaimi said.
That would leave about 12 million tons of the fuel for export by 2015, twice the amount of 6 million tons exported last year, he said.
Arabian Gulf producers are seeking to increase capacity on expectation demand will recover after the global economic slump crimped fuel consumption.
Saudi Arabia, the largest OPEC producer, has expanded its capacity to more than 12 million barrels a day and kept a third of that idle amid low demand.
Abu Dhabi, the largest sheikhdom in the UAE, aims to boost its total output to 3.5 million barrels a day by 2018.
The country, which exports most of its crude oil to Asia, has capacity to produce about 2.8 million barrels a day, oil minister Mohamed Al Hamli said in Abu Dhabi March 2.
The UAE holds about 7 percent of global crude reserves with most in Abu Dhabi’s on and offshore deposits.
The UAE capital has about 227 trillion cubic feet of natural gas reserves, the seventh largest in the world, according to BP’s annual statistical review.
The emirate is raising gas production capacity by developing the Shah deposit in the sheikhdom’s inland desert and by processing fuel found together with crude oil.
LPG can be used as a domestic heating and cooking fuel.