ADNOC plans oilfield maintenance in March-April

Abu Dhabi National Oil Company (ADNOC) has scheduled maintenance at oil fields that produce Murban and Das light crude in March and April, three people familiar with the matter said on Thursday.

Field maintenance is expected to reduce Murban crude exports in March and shipments for Das crude in April, said the sources, who spoke on condition of anonymity as they were not authorised to discuss the matter publicly.

It was not immediately clear how much exports might fall although one of the sources said ADNOC has also scheduled maintenance at its Ruwais refinery during the same period, which may minimise the impact on exports.

The United Arab Emirates has committed to reduce production by 139,000 barrels per day in the first half of 2017, or 4.61 per cent, from 3.013 million bpd in October, as part of an OPEC deal aimed at curbing global oversupply and prop up prices.

Abu Dhabi is the key contributor to UAE’s production besides Dubai where output has been declining.

Production of ADNOC’s flagship onshore Murban crude is close to 1.6 million bpd while offshore Das crude output is near 650,000 bpd, according to industry estimates. The bulk of ADNOC’s crude is exported to Asia.