The United Arab Emirates will cut oil output by around 600,000 barrels per day (bpd) in November due to maintenance work at three oilfields, the state-run Abu Dhabi National Oil Company said Sunday.
"A scheduled essential maintenance programme will take place in November 2007 at three offshore fields-Upper Zakum, Lower Zakum and Umm Shaif. During the maintenance period, production will be reduced by approximately 600,000 bpd," ADNOC said in a statement. It did not specify how long the work will last but said it had taken measures to meet its commitments.
"This maintenance programme has been well planned for over a year and ADNOC has worked closely with its term clients to ensure there is minimal disruption to their operations, which also coincides with the scheduled seasonal refinery maintenance in the market," the firm said.
"ADNOC's commitments to its term clients are all met by advancing the majority of liftings, and some deferments that have been rescheduled by mutual agreement," it added
ADNOC also said crude processing will be cut by some five million barrels while maintenance work is undertaken by its refining subsidiary, Takreer, at the Ruwais refinery between December 22 and February 25, 2008.
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