Occidental digs deep for Abu Dhabi development rights

Drilling Activity Details

Locations

United Arab Emirates

Post Date
Well Name
n/a
Geo Coordinate

Drilling Activity Summary

Description

IHS Inc. reports a recent agreement by Occidental Petroleum Corp., Los Angeles, and Abu Dhabi National Oil Co. (Adnoc) for appraisal and development rights to Jarn Yaphour and Rahman fields in Abu Dhabi. Occidental will pay $500 million to develop the fields and will receive 100% of field output through 2012. First production from onshore Jarn Yaphour Field, near the capital city of Abu Dhabi, is scheduled for 2009. Production of 10,000 bbl. of oil equivalent per day is anticipated. Rahman Field lies in shallow water near the Abu Dhabi refinery and was tested in 1992 from one well at a rate of 1,750 bbl. of oil per day and 14 million cu. ft. of gas. First production from the field could commence as early as 2011.