On March 27, PetroChina announced that the second phase of the Bel Bazem oil field of the Abu Dhabi land and sea project implemented by the Abu Dhabi branch has started production. This is a milestone for PetroChina’s business development in the high-end market in the Middle East.
The second phase of the project adopts an innovative shared development model to reduce direct investment and production costs; at the same time, digital technologies such as artificial intelligence modeling and reservoir data analysis are used to optimize operation management, improve project production efficiency and safety, and reduce carbon emissions.
The Abu Dhabi land and sea project is the first project jointly developed by PetroChina and the United Arab Emirates National Oil Company (ADNOC). The first phase was put into production in March 2018. The successful first oil production of this second phase project will contribute new results and add new highlights to the cooperation between the two parties. After the project is put into operation, it will help ADNOC achieve its goal of reaching 5 million barrels of daily production in 2027.
