Monday, Dec 01, 2008

DUBAI (Zawya Dow Jones)--Abu Dhabi Co. for Onshore Oil Operations, or Adco, plans to raise crude oil production by 424,000 barrels a day to a daily rate of about 1.8 million barrels by 2017 and lower emissions from flared gas by more than a third within three years, the company said Monday.

Adco, which is 60% owned by Abu Dhabi National Oil Co., or Adnoc, will boost output in three increments between 2013 and 2017, Abdul Munim Al Kindi, the company's general manager, said in an emailed statement.

The first increment will add 197,000 barrels a day by 2013, the second 94,000 barrels a day by 2014 and the third 133,000 barrels a day by 2017, according to the statement.

"Adco will respond to the Supreme Petroleum Council guidelines by raising its sustainable production in incremental steps ... This increase will be achieved with the completion of four main projects," Al Kindi said.

The first project, worth $4.5 billion, will ensure sustainability and addition of production, and involves replacing assets that are older than 35 years, and the upgrade and addition of new ones, he added.

The other output additions will come from projects to be awarded starting in 2009 and cover the Bab, Bida Al Qemzan, Qusahwira and Northeast Abu Dhabi fields, Al Kindi said.

Adco will reduce its emissions from the flaring of gases, which presently stands at about 4.6 million cubic feet a day, to 1.3 million cubic feet a day by 2011, Al Kindi said.

BP PLC (BP.LN), Royal Dutch Shell PLC (RDSA.LN), Total S.A. (12027.FR), ExxonMobil Corp. XOM) and Partex Oil and Gas jointly hold 40% in Adco.

-By Oliver Klaus, Dow Jones Newswires, +9714 364 4962 Oliver.Klaus@dowjones.com

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01-12-08 0917GMT