The Abu Dhabi Marine Operating Company (ADMA-OPCO) set an oil production record in the first quarter of last year, the company disclosed in its latest annual review.
One of several operating units of Abu Dhabi National Oil Company (ADNOC), ADMA-OPCO also said its average oil output of 570,000 barrels per day (bpd) last year was the second highest in the past 15 years.
The annual review provides a rare glimpse into the operations of one of the three joint ventures that ADNOC has set up with foreign partners to produce Abu Dhabi's crude oil.
ADMA-OPCO, like most of ADNOC's other subsidiaries, is 60 per cent owned by the state petroleum company. Its foreign partners are the UK's biggest oil company, BP, the French energy group Total, the British-based Inpex Group and Japan Oil Development Company.
It pumps crude from two large Gulf oilfields, Umm Shaif and Zakum.
ADMA-OPCO said oil production from Zakum last year averaged 316,000 bpd, slightly exceeding the company's target of 313,000 bpd.
It did not provide comparable figures for Umm Shaif, but said the operations unit in charge of the field had a "challenging, yet successful year".
ADMA-OPCO also plans to develop several smaller Gulf oilfields. The front-end engineering and design project for the Umm Lulu field was completed last year and the company also finished a full field development study for the Nasr field.
Its major projects division reported progress on a gas injection project at Umm Shaif, aimed at boosting oil output from the field.
The division also completed front-end engineering and design last year for ADMA-OPCO's portion of the Habshan integrated gas development, a project to co-ordinate and optimise the production of gas associated with offshore oilfields and Abu Dhabi's biggest onshore field, Habshan.
On Tuesday, another ADNOC unit awarded Dh34 billion (US$9.2bn) of contracts related to the integrated-gas project to international firms.
Like ADNOC's two other oil producing units, ADMA-OPCO is undertaking projects aimed at boosting the UAE's total crude production capacity to 3.5 million bpd by 2018 from the current level of about 2.8 million bpd.
Among those developments is a water-injection project at Zakum. ADMA-OPCO said this would raise the field's output in 2012 and beyond.
That project involved introducing a new offshore platform with facilities including an 11 megawatt power generator to pump 120,000 bpd of water, the company said.
The UAE pumps about 2.2 million bpd of oil, mostly from Abu Dhabi, after curtailing some of its production in compliance with the record 4.2 million bpd of production cuts that OPEC pledged last year.
tcarlisle@thenational.ae
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
Five famous companies founded by teens
There are numerous success stories of teen businesses that were created in college dorm rooms and other modest circumstances. Below are some of the most recognisable names in the industry:
- Facebook: Mark Zuckerberg and his friends started Facebook when he was a 19-year-old Harvard undergraduate.
- Dell: When Michael Dell was an undergraduate student at Texas University in 1984, he started upgrading computers for profit. He starting working full-time on his business when he was 19. Eventually, his company became the Dell Computer Corporation and then Dell Inc.
- Subway: Fred DeLuca opened the first Subway restaurant when he was 17. In 1965, Mr DeLuca needed extra money for college, so he decided to open his own business. Peter Buck, a family friend, lent him $1,000 and together, they opened Pete’s Super Submarines. A few years later, the company was rebranded and called Subway.
- Mashable: In 2005, Pete Cashmore created Mashable in Scotland when he was a teenager. The site was then a technology blog. Over the next few decades, Mr Cashmore has turned Mashable into a global media company.
- Oculus VR: Palmer Luckey founded Oculus VR in June 2012, when he was 19. In August that year, Oculus launched its Kickstarter campaign and raised more than $1 million in three days. Facebook bought Oculus for $2 billion two years later.
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Read more about the coronavirus
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
The smuggler
Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple.
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.
Khouli conviction
Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.
For sale
A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.
- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico
- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000
- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950
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