Oil and Gas News from OilGasDaily.Com  
OIL AND GAS
Expect more oil from United Arab Emirates
by Daniel J. Graeber
Washington (UPI) Oct 23, 2015


disclaimer: image is for illustration purposes only

OPEC-member United Arab Emirates could expand oil production by 30 percent by 2020 using a costly recovery technique, a U.S. federal review finds.

The United Arab Emirates was the third-largest contributor to oil production from the Organization of Petroleum Exporting Countries last month. September oil production of 2.9 million barrels per day represented a 0.8 percent increase from the previous month.

A brief report from the U.S. Energy Information Administration said Emirati production could increase by 30 percent by 2020 using a process called enhanced oil recovery.

Primary recovery from oil deposits relates to natural pressure in the reservoir. Secondary recovery involves water or gas injection into the well to increase production. Enhanced oil recovery techniques include further stimulation from steam, gas or chemical injections into the well.

"EOR is an expensive process, and at current prices, these projects may not be economic," EIA stated. "However, despite today's low oil prices, the UAE continues to invest in future production."

Crude oil prices have faced downward pressure because of increased crude oil stored in the United States and because of the eventual return of Iranian oil to the international market.

EIA's report said the Upper Zakum oil field in the United Arab Emirates, the second largest offshore oil field in the world, received development support to the tune of $800 million in 2012. By next year, the field should produce about 750,000 barrels per day, a 27 percent increase from current levels.

OPEC members have adhered to a policy to keep production levels steady. Weak global economic growth has in part led to an oversupplied market, pushing crude oil prices to historic lows. Brent crude oil traded Friday at $48.10, more than 40 percent below the price for this date in 2014.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All About Oil and Gas News at OilGasDaily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
OIL AND GAS
Russian gas giant: Expansion of pipeline ensures reliability
Paris (UPI) Oct 23, 2015
Russian natural gas company Gazprom said expanding the Nord Stream pipeline to Europe adds another layer of security to the region's energy sector. Russia meets about a quarter of European gas needs, though the bulk of that gas runs through a Soviet-era pipeline network in Ukraine. Conflict and ongoing debt issues between Gazprom and Kiev have created risks to the conventional artery, a ... read more


OIL AND GAS
UN chief says 'no plan B or planet B' in climate talks

To reach CO2, energy goals, combine technologies with stable policies

EDF for carbon price floor

Shift from fossil fuels risks popping 'carbon bubble': World Bank

OIL AND GAS
Synthetic batteries for the energy revolution

Breakthrough to the development of energy-saving devices for the next-gen

Unveiling distribution of defects in proton conductors

What are these nanostars in 2-D superconductor supposed to mean

OIL AND GAS
New UT study highlights environmental, economic shortcomings of federal biofuel laws

Light emitting diodes made from food and beverage waste

Study: Africa's urban waste could produce rural electricity

Researchers create inside-out plants to watch how cellulose forms

OIL AND GAS
China Increasingly Investing Money in New Nuclear Power Plants

Ukraine to Terminate Deal With Russia on Nuclear Fuel Plant Construction

China, Britain strike 'historic' nuclear deal

Saudi, Hungary sign nuclear pact

OIL AND GAS
Will climate change make the world lazier?

Climate pact: The rocky road to Paris... and beyond

El Nino to cause 80% rise in East Africans needing aid: UN

World split over carbon-cutting in climate battle

OIL AND GAS
Consumer Reports hits reliability of 'best car' Tesla

Uber invests big in China in face of fierce rival

VW examining if another engine has pollution cheating device

Pakistani entrepreneurs launch 'Uber for rickshaws'

OIL AND GAS
Iraqi forces claim found 365 IS bodies in Baiji graves

Iraq slaps arrest warrant on trade minister over graft

Iraqi forces in huge anti-jihadist push in Baiji

Iraq says assault to retake IS-held Ramadi looming

OIL AND GAS








The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.