Thursday, April 10 2025

OGDCL to begin output in ADNOC’s block by 2027
Oil and Gas Development Company Ltd expects to start production in Abu Dhabi’s Offshore Block-5 by 2027, while also increasing domestic oil and gas output and diversifying into minerals, its CEO said on Wednesday. OGDCL partnered with Abu Dhabi National Oil Company (ADNOC) in 2021 to explore and develop oil and gas resources in the block. Ahmed Hayat Lak, managing director and CEO of OGDCL, told Reuters the reserves were still being evaluated, but the company believed production could start in 2027. In terms of local exploration and production, Lak said the company was targeting crossing 50,000 barrels per day in oil production, up from 37,000, and gas output reaching 1 billion cubic feet, from around 800 million cubic feet, in the next three years.
Related news categories: business misc oilgas-exploration oilgas-marketing
Related symbols: ogdc (news stock)