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Exxon Agrees With Adnoc to Boost Capacity of Offshore Oil Field

Bloomberg · last updated

The United Arab Emirates and Exxon Mobil Corp. agreed to expand the nation’s oil production capacity.

Abu Dhabi National Oil Co. will work with Exxon to boost capacity at the offshore Upper Zakum field, the UAE company said in a statement Friday. The site, where Japan’s Inpex Corp. is also a partner, currently can produce more than 1 million barrels a day. Adnoc didn’t specify the new target.

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