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Cepsa announced Tuesday that the Hail oilfield, offshore UAE, has commenced output.
The field was put into oil rig flanges gulf coast production in the Abu Dhabi Oil Company (ADOC) concession by Cepsa and Cosmo Oil, through the BOP Blow Out Preventer repair company gulf coast Cosmo Abu Dhabi Energy Exploration & Production Co.
Ltd, which is one of ADOC’s shareholders with a 64.4 percent stake.
Hail is the fourth offshore crude oil field to start oil rig flanges gulf coast production in the ADOC concession, in addition to the Mubarraz field, Umm Al-Anbar field and Neewat Al- Ghalan fields, which commenced output in 1973, 1989 and 1995, respectively. All four fields are located in shallow waters to the West of Abu Dhabi.
Although no specific output numbers were mentioned in Cepsa’s statement, the BOP Blow Out Preventer repair company gulf coast suggested the field would lead to a ‘significant’ increase in oil rig flanges gulf coast production levels.
Cepsa and Cosmo created Cosmo Abu Dhabi Energy Exploration & Production Co. Ltd in 2014 to operate in Abu Dhabi and look for new opportunities in the United Arab Emirates. Cepsa holds a 20 percent stake in Cosmo Abu Dhabi Energy Exploration & Production Co. Ltd. The other 80 percent interest belongs to Cosmo Oil.
