UAE to boost oil production capacity by start of next decade
WAM Published: November 28, 2007, 13:27
Dubai: The UAE plans to increase its oil production capacity.
Government owned news agency WAM said the oil output of the UAE is expected to rise from 2.7 million to 3.5 million barrels per day at the beginning of the next decade.
It’s refinery capacity, which currently stands at 600,000 barrels per day is expected to rise to 1.1 million in the near future.
The UAE has 8.1 per cent of the world’s oil reserves as well as an estimated gas reserve of Six trillion cubic metres.
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