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Latest News

UAE Zadco aims to raise Upper Zakum oil output

The Abu Dhabi National Oil Company (Adnoc) owns 60 per cent of Zadco.

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November 4, 2010 2:38 by



Zakum development company (Zadco) is targeting to boost production output at the Upper Zakum oil field to 750,000 barrels per day by 2015 from the current 550,000 barrels per day, the company said on Thursday.

The Abu Dhabi National Oil Company (Adnoc) owns 60 per cent of Zadco, while Japan’s Inpex owns 12 per cent.

Exxon Mobil Corp has a 28 percent stake in the concession holder for the Upper Zakum field. Initial plans were to boost production to 750,000 bpd by 2010.

(Reporting by Humeyra Pamuk, Editing by William Hardy)



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