The Abu Dhabi National Oil Company (ADNOC) announced on Wednesday that it will start oil production from the Belbazem offshore block and that it is expected to "gradually" increase its capacity from 45,000 barrels per day (bpd) of light crude and 27 million standard cubic feet per day of associated gas.
The offshore block which is operated by the joint venture Al Yasat Petroleum, owned by ADNOC and China National Petroleum Corporation (CNPC) is targeted to help ANDOC in achieving its goal of reaching 5 million bpd by 2027 and ensuring gas self-sufficiency for the United Arab Emirates, the company noted in a statement.
ADNOC Upstream Executive Director Abdulmunim Saif Al Kindy mentioned that the opening of this production spot "is a testament to the success of our strategic partnership with CNPC and the robust bilateral energy relationship between the UAE and China."
