UAE's crude production falls 18% in November
By Himendra Mohan Kumar, Staff Reporter GULF NEWS Published: December 23, 2007, 00:36
Abu Dhabi: The UAE's crude oil output fell by more than 18 per cent in November, mainly due to maintenance being conducted on some offshore fields, the Organisation of Petroleum Exporting Countries (Opec) said in its market report for December.
The UAE pumped an average of 2.12 million barrels per day of crude oil in Nov-ember, making it the seventh largest Opec producer last month, the group said.
Citing secondary sources, Opec said that oil production by Saudi Arabia, Iran, Kuwait, Venezuela, Nigeria and Iraq was higher than that of the UAE.
Offshore field maintenance in Abu Dhabi, which produces more than 90 per cent of the UAE's oil, reduced production in Nov-ember by as much as 481,000 bpd.
The fields that were particularly affected were Umm Shaif, Upper Zakum and part of Lower Zakum.
Industry sources say full output is expected to be restored shortly.
Crude oil production by all 13 Opec members averaged 31.45 million bpd in November.
Abu Dhabi will invest $20 billion to boostoil and natural gas output.
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