By OGJ editors
HOUSTON, Aug. 7 -- The international group that operates Dubai's mature offshore oil fields will relinquish its concession to the emirate's government next April.
A consortium of Dubai Petroleum Co. (DPC), wholly owned by ConocoPhillips, and Dubai Marine Areas Ltd. (DUMA), of which DPC is part, has worked in Dubai since 1961.
DPC/DUMA operates four offshore oil fields, Fateh, Southwest Fateh, Falah, and Rashid. Group interests are ConocoPhillips, the operator, 32.5%; Total SA, 27.5%; Repsol YPF SA, 25%; RWE Dea AG, 10%, and Wintershall AG, 5%.
Although Dubai is part of the United Arab Emirates, a member of the Organization of Petroleum Exporting Countries, its production is exempt from OPEC quotas and not widely reported. It peaked at about 400,000 b/d in 1991 and is believed to have fallen recently to just above 100,000 b/d.
UAE production is about 2.5 million b/d, almost all from Abu Dhabi.
Dubai Petroleum Establishment (DPE), a new government entity, will become operator of the fields on Apr. 2, 2007.
DPE has let contract to Petrofac Ltd. of the UK for well and facilities management in the fields, which have about 70 platforms. Petrofac said it will employ the 1,100 persons now working with the operation.
