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ADCO To Boost Output By 400,000 bpd |
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Abu Dhabi Company for Onshore Oil Operations (ADCO) is considering 400,000 barrels per day (bpd) increase in its crude capacity to 1.8 million bpd by 2017, a senior official at the company said today. "ADCO will invest US$ 5.3 billion by 2012 to boost crude production by 225,000 bpd. This comes as part of a comprehensive plan to increase production on a regular basis to reach 1.8 million bpd in 2017," he said. Al Kindy revealed that ADCO will soon sign contracts totaling US$1.5 billion to boost production of Bab onshore fields from 300,000 bpd to 380,000, to develop the new Jessiora field to produce 30,000 bpd and to begin a US$300 million development of Bida Al Qimzan filed. |
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