UAE to raise oil production to 3.5 million barrels per day

ADNOC Emirates has roughly 100bn barrels of proven reserves and contributes almost 3 per cent of global oil production

18 Nov 2015

The UAE will raise its oil production capacity to 3.5 million barrels per day within the next two to three years, says HE Abdulla Nasser Al Suwaidi, director-general of the Abu Dhabi National Oil Company (ADNOC). Abdalla Salem el-Badri, the Secretary-General of OPEC (Organization of the Petroleum Exporting Countries) said that UAE plays a major role in securing a stable supply of oil, confirming that it is one of the leading energy producing countries in the world, Aliqtisadi reports. Badri says: “OPEC is working to strengthen mutual cooperation to secure the supplies of its twelve member states,” pointing to the significant role played by the UAE within the organisation and how the development projects that abound in Abu Dhabi contribute towards securing a stable supply of the natural resources of the member states in OPEC.”It is noteworthy that the UAE has roughly 100 billion barrels of proven oil reserves and contributes close to three per cent of the world’s oil production at this time, making it one of the leading energy producing countries globally.