Oil production capacity in Gulf region to increase by 10 mln bpd by 2015: paper
8/9/2008 17:43
The combined oil production capacity in the oil-rich Gulf region is
expected to increase by about 10 million barrels per day (bpd) by 2015 as a
result of a huge amount of investment poured into the region's oil industry,
local newspaper Gulf News reported today.
According to the Dubai-based
project research firm Proleads, there are nearly 300 active upstream oil
projects in the Gulf region, with a combined value of almost US$300
billion.
Proleads believed that the Gulf region will add about 10 million bpd
of capacity by 2015 if all current projects across the region meet their
projected targets.
Saudi Arabia, which currently maintains the world's
largest crude oil production capacity of 10.5 million to 11 million bpd, will
contribute more than half to the region's total added oil production capacity
with some 5.2 million bpd.
The United Arab Emirates (UAE) takes the second
place on the list of added oil production capacity with an estimated 1.9 million
bpd, followed by Qatar (1.4 million bpd), Kuwait (one million bpd),Oman (460,000
bpd) and Bahrain (35,000 bpd).
Xinhua
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