ADMA achieves highest oil production rate

Abu Dhabi Marine Operating Company (ADMA-OPCO) announced that it has currently achieved the highest oil production rate in its history. In the company’s annual review for 2011, the company stated that despite many challenges facing the completion of key projects, it was able to achieve the targeted production rate by maintaining the level of production for 2011. It was also able to meet the gas requirements of Adgas. ADMA revealed in the review that it’s planning to carry out development operations in Lower Zakum oil field, increasing its production from 200,000 barrels per day to 425,000, and increasing Umm Al Shaif field’s production from 100,000 bpd to 275,000 bpd, making the combined production rate of both fields 700,000 bpd by 2015. In a statement issued in the report, Ali Rashid Al Jarwan, CEO of ADMA-OPCO, said that the company’s performance exceeded the set key-performance indicators (KPIs). “Our growth agenda saw significant strides in terms of project expansions, technology transfer and people empowerment. Having implemented many initiatives, we managed to maintain our solid growth and deliver strong results, despite the enormous challenges facing the oil and gas industry,” he added. “Our achievements of the year will be crowned with the celebration of the 50th Anniversary of the first shipment of crude oil produced from Umm Al Shaif Field and exported via Das Island on July 4, 1962. This historical event, which was a turning point in the history of the UAE will be celebrated in the second half of 2012,” Jarwan said.