UAE oil discoveries bolster ADNOC bid to reach 5mln bpd capacity -minister

The UAE announced the discovery of two billion barrels of conventional oil reserves and 22 billion barrels of unconventional oil reserves

  
UAE's Oil Minister Suhail Mohamed Al Mazrouei arrives at the OPEC headquarters in Vienna, Austria December 6, 2019.

UAE's Oil Minister Suhail Mohamed Al Mazrouei arrives at the OPEC headquarters in Vienna, Austria December 6, 2019.

REUTERS/Leonhard Foeger

DUBAI  - United Arab Emirates' Energy Minister Suhail al-Mazrouei said on Monday the latest oil discoveries are part of state-owned Abu Dhabi National Oil Co's efforts to increase production capacity to 5 million barrels per day by 2030.

The UAE on Sunday announced the discovery of two billion barrels of conventional oil reserves and 22 billion barrels of unconventional oil reserves.  

The discoveries "reflect the constant development operations carried out by ADNOC in its endeavour to reach its target of increasing oil production capacity to 5 million bpd by 2030," Mazrouei said on his ministry's Twitter account.

(Reporting by Maher Chmaytelli; editing by Jason Neely) ((maher.chmaytelli@thomsonreuters.com;))

More From Energy