Abu Dhabi intends to boost its oil production capacity to 4 million b/d by the end of 2020 and to 5 million b/d by 2030 under plans approved Sunday by the Supreme Petroleum Council, which also announced new discoveries totaling 1 billion barrels of oil, Abu Dhabi National Oil Company said. Receive daily email alerts, subscriber notes & personalize your experience. Register Now The SPC, Abu Dhabi’s highest hydrocarbon policy-making body, also approved the emirate’s unprecedented gas strategy, enabling the UAE to achieve gas self-sufficiency, with the potential to be a net gas exporter, ADNOC said in a statement Sunday. At its meeting, SPC also announced new discoveries totaling 15 Tcf of gas. The announcement of Abu Dhabi’s discovery of significant oil reserves follows the emirate’s “historic decision” earlier this year to open six geographical oil and gas blocks for competitive bidding, ADNOC said. The first exploration […]