Output at Abu Dhabi’s Upper Zakum oil field may decline by about 20 percent when the Persian Gulf emirate’s state oil company conducts planned maintenance in May, JBC Energy GmbH said in a report.
The offshore deposit normally produces about 550,000 barrels of crude a day, Vienna-based JBC said in its Asian Oil Markets Weekly report. Work at the field will take about 14 days, according to the consultant.
Abu Dhabi National Oil Co., the government-owned producer in the capital of the United Arab Emirates, owns 60 percent of Zakum Development Co., known as Zadco, which operates the deposit. A Zadco official, declining to be identified citing company policy, confirmed today that the operator plans maintenance work in May and will seek to minimize interruptions in supply.
Exxon Mobil Co. owns 28 percent of Zadco, and Japan Oil Development Co., a unit of Japan’s Inpex Group, owns 12 percent, according to the venture’s website.
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