DUBAI (Reuters) - Abu Dhabi National Oil Co (ADNOC), ExxonMobil Abu Dhabi Offshore Petroleum Co and Japan’s Inpex Corp (1605.T) have jointly agreed to increase output capacity at the Upper Zakum oil field to 1 million barrels per day by 2024.
The agreement was signed on the sidelines of an energy conference in Abu Dhabi, according to an ADNOC statement on Tuesday.
The Upper Zakum field, located offshore Abu Dhabi, is the second largest offshore oil field and the fourth largest oil field in the world, the statement said. Previously, Abu Dhabi was pursuing a plan to boost its production capacity to 750,000 bpd by 2017-18.
Reporting by Saeed Azhar; Editing by Andrew Torchia