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Mubadala, Conoco Kazakh JV may hit 3m bpd

Abu Dhabi, November 10, 2009

Abu Dhabi investment vehicle Mubadala's joint-venture deal with ConocoPhillips to develop an offshore oilfield in Kazakhstan could produce up to 3 million barrels per day (bpd) in three to four years, a top executive said on Tuesday.

'We could produce 1.5 million barrels per day to three million barrels per day in three to four years if our drilling is successful,' said Maurizio La Noce, chief executive of oil and gas at the government owned investment fund during a Meed industry conference.

The focus of the investment company's oil and gas business would centre in the Middle East and North Africa, the Caspian and Southeast Asia, he said.-Reuters




Tags: Mubadala | ConocoPhillips | Kazakhstan | oilfield |

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