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UAE seeks to ramp up oil production capacity by 2025

Oilfield, Airplane, Transportation ADNOC
ADNOC is aiming to produce five million barrels a day by 2025.

The United Arab Emirates (UAE) is planning to increase its crude output capacity, Bloomberg reported, citing people familiar with the matter.

State-owned Abu Dhabi National Oil Co. (ADNOC) is seeking to produce five million barrels a day by 2025, aiming to achieve the target before the previously-set deadline of 2030.

Initially, ADNOC and the UAE government were planning to meet the objective by 2027 before deciding on 2025, the news agency said.

The UAE is pushing to sell more oil and natural gas while prices remain high.

Oil rose to $120 barrel following Russia’s invasion of Ukraine.

Meanwhile, ADNOC has told international oilfield partners to raise their long-term production levels by 10 percent or more.

The company may try to ramp up its capacity further to six million barrels daily by the end of the decade if the UAE succeeds in meeting its 2025 goal, the sources said.