New major oil discovery in Abu Dhabi ...United Arab Emirates

Abu Dhabi: The Supreme Petroleum Council (SPC) announced on Sunday the discovery of substantial recoverable unconventional oil resources located onshore, estimated at 22 billion stock tank barrels (STB), and an increase in conventional oil reserves of 2 billion STB in Abu Dhabi. The announcements were made following the SPC meeting presided over by His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the United Arab Emirates (UAE) Armed Forces and Vice-Chairman of the SPC. ADNOC’s capital expenditure plan At the meeting, the SPC approved ADNOC’s capital expenditure (CAPEX) plan of Dh448 billion ($122 billion) for 2021-2025 to enable sma

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