SPC announces new oil discovery of 22bn barrels in Abu Dhabi

SPC announces new oil discovery of 22bn barrels in Abu Dhabi
SPC announces new oil discovery of 22bn barrels in Abu Dhabi

We show you our most important and recent visitors news details SPC announces new oil discovery of 22bn barrels in Abu Dhabi in the following article

Hind Al Soulia - Riyadh - ABU DHABI — The Supreme Petroleum Council (SPC) announced on Sunday new onshore discoveries of non-conventional, recoverable oil resources estimated at 22 billion barrels and an increase of conventional oil reserves by 2 billion barrels in the Emirate of Abu Dhabi.

The SPC announced the new discoveries during a virtual meeting headed by Sheikh Mohamed Bin Zayed Al Nahyan, crown prince of Abu Dhabi, deputy supreme commander of the UAE Armed Forces, and SPC deputy chairman.

The meeting approved ADNOC's action plan to increase its capital investment to AED 448 billion over the next five years, which will reinject AED160 billion into local economy. — WAM


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