April 15, 2007 / 12:01 PM / 12 years ago

UAE to boost lower Zakum oil capacity 100,000 bpd

DUBAI, April 15 (Reuters) - The United Arab Emirates aims to boost oil output capacity at its lower Zakum oilfield by 100,000 barrels per day by 2010, a Middle East economic magazine website reported.

The UAE is the world’s sixth largest oil exporter. The government said last year it was aiming to boost its total crude and condensate output to around 4 million barrels per day in the next few years from around 2.9 to 3.0 million bpd in 2006.

Paris-based Technip will carry out the engineering and design for the lower Zakum expansion, the Middle East Economic Digest (MEED) said.

The engineering and construction package would be tendered in the second or third quarters, MEED said.

The project will take capacity at the field to 425,000 bpd in 2010 from a projected 325,000 bpd in 2008. The field produced around 280,000 bpd last year.

The UAE government first mooted the project four years ago, but then judged it uneconomic. The higher price of oil has made the project viable, MEED said.

The price of benchmark U.S. crude CLc1 has almost doubled to over $63 on Friday from $32 at the end of 2003.

The field is operated by the Abu Dhabi Marine Operating Company (ADMA-OPCO).

State-run Abu Dhabi National Oil Company holds 60 percent of ADMA-OPCO, BP (BP.L) holds 14.2 percent, Total (TOTF.PA) 13.1 percent and Japan Oil Development Co 12 percent.

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