Khaled bin Mohamed bin Zayed chairs meeting of Executive Committee of Board of Directors of ADNOC
Published date | 19 May 2022 |
Publication title | LETA |
H.H. Sheikh Khaled bin Mohamed bin Zayed, Member of Abu Dhabi Executive Council and Chairman of Abu Dhabi Executive Office, has chaired a meeting of the Executive Committee of the Abu Dhabi National Oil Company (ADNOC) Board of Directors.
During the meeting, held at ADNOC Headquarters in Abu Dhabi, Sheikh Khaled reviewed ADNOC's performance and strategic targets and commended the company's expanded approach to strategic partnerships, which have helped lead to new discoveries of oil, including a new find at Bu Hasa, Abu Dhabi's biggest onshore field with a crude oil production capacity of 650,000 barrels per day (mbpd).
The 500 million barrels of oil discovered from an exploration well in the Bu Hasa field has unlocked a new formation within the field, offering substantial additional premium-grade Murban oil resources. Bu Hasa is part of the ADNOC Onshore Concession and is operated by ADNOC Onshore.
In Abu Dhabi's Onshore Block 3, operated by Occidental, around 100 million barrels of oil in place were discovered, marking the second oil find in this concession. Occidental was awarded the exploration rights for Onshore Block 3 in early 2019. Around 50 million barrels of light and sweet Murban-quality crude was also discovered in the Al Dhafra Petroleum Concession, operated by Al Dhafra Petroleum, a joint venture between ADNOC, the Korea National Oil Company (KNOC) and GS Energy.
Sheikh Khaled commended ADNOC for its collaborative approach and noted that the company and its partners would ensure that the UAE remains a reliable supplier of some of the least carbon-intensive oil in...
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