Dubai says new oilfield could begin production in a year

05/02/2010 - Dubai Investment News
Dubai says new oilfield could begin production in a year
Posted by Bob Brunskill

The Dubai government has said that a newly-discovered offshore oilfield could begin production next year.

An official statement claimed that the field will "notably increase the production of crude in Dubai" but gave no details about the size of the find, the Associated French Press reported.

The statement said that the oilfield - named Al-Jalila after a daughter of Dubai ruler Sheikh Mohammad bin Rashed al-Maktoum - could serve to boost the electricity output of the emirate.

"This important discovery will provide an impetus to the various sectors of the economy of Dubai, more so because the emirate intends to increase its output of electricity to 10,000 megawatts in 2012, against 7,500 megawatts at present," said the government.

Current oil reserves in Dubai stand at about four billion barrels. The new field is located to the east of the small Rashid oil field, which is about 70 kilometres off the coast.
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