Saudi Arabia and the UAE have starring roles to play in the oil market this summer, as the only producers in the world holding any significant spare output capacity. But much of it is from untested fields, and as the core OPEC members face increasing pressure to tame the oil price rally, ahead of a .
Boosting its crude oil production capacity to 5 million bpd has become a key goal for the UAE, and a slew of deals in recent months confirms that the Gulf producer is looking to achieve this goal ahead of time
Eni is recording positive results from its first exploration well, XF-002, currently drilling in offshore Block 2 Abu Dhabi (UAE). Interim results indicate a range of 1.5-2 trillion cubic feet (TCF) of raw gas in place in multiple good quality reservoirs in the Jurassic exploration targets.
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