Pumping up activity: ADNOC plans more wells for 2010
ADNOC eyes 50% boost to drilling
The Abu Dhabi National Oil Company (ADNOC) will increase oil and gas drilling by 50% this year to sustain and enhance output, a senior company official said today.
ADNOC drilled around 200 development wells offshore and onshore in 2009 and this year at least 300 or more wells will be drilled, drilling manager Asim Yousif al Zarouni, said.
"This year drilling activity will increase, 300 or more wells. We need to maintain production or increase slightly according to our expansion plans," Reuters quoted him as saying to reporters at a conference.
Oil drilling accounts for some 75% of ADNOC total drilling while gas accounts for the remaining.
The majority of wells drilled are development wells except for about 10% that are exploratory and appraisal wells, he said.
ADNOC will deploy at least 4 to 5 new rigs this year, he said.
"In 2008 and 2009 we had 30 rigs operational. We are adding four to five more this year to increase production," he said.
As per ADNOC's long-term plans, production is still far from the peak, he added.
Peak oil production will take place in the next 10 to 20 years, he said, citing research and analytical energy reports.
"Drilling activity will increase significantly in the next decade and drilling technology will make the difference."