BP seeks to up re­cov­ery rates from Abu Dhabi oil­fields to 60-70%

The Gulf Today - Business - - UAE -

ABU DHABI: Bri­tish Petroleum (BP) is plan­ning to raise re­cov­ery rates From oil­fields In ABU DHABI to 60-70 per cent from the cur­rent level of around 30-40 per cent, ac­cord­ing to A se­nior OFI­CIAL At THE BRI­TISH oil gi­ant.

Speak­ing to re­porters on the side­lines of the Abu Dhabi In­ter­na­tional Petroleum Ex­hi­bi­tion and Con­fer­ence, which opens in the UAE cap­i­tal to­day, Salem Bin Ashoor, Gen­eral Man­ager and Chief Rep­re­sen­ta­tive of Bri­tish Petroleum UAE, said, “We can see the op­por­tu­nity in the long run to boost re­cov­ery rates From oil­fields In ABU DHABI to 60-70 per cent.”

“BP is a leader in de­ploy­ing En­hanced Oil Re­cov­ery schemes and has de­vel­oped sev­eral pro­pri­etary tech­nolo­gies, such as low salin­ity wa­ter in­jec­tion to help re­cover more oil from reser­voirs. Ad­di­tion­ally, BP Is A LEADER In wa­ter lood tech­nol­ogy, a type of en­hanced oil re­cov­ery.”

THE OFI­CIAL ADDED In state­ments that the Bri­tish oil gi­ant is “max­imis­ing re­cov­ery from some of the world’s largest reser­voirs and from ma­tur­ing ields such As In Azer­bai­jan, Iraq, Rus­sia and the US.

On how much BP is bet­ting on R&D and in­no­va­tion, Bin Ashoor said that tech­nol­ogy and in­no­va­tion are key play­ers in the oil and gas in­dus­try, par­tic­u­larly here in Abu Dhabi.

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