Abu Dhabi to invest US$3 bln for expansion of Borouge

03-Aug-07
Abu Dhabi will invest Dh11 bln (US$3 bln) to expand the capacity of the Borouge petrochemicals facility to 2 million tpa. Abu Dhabi, which has 98 billion barrels of proven crude oil reserves, has targeted an increase in its production capacity to 4 million bpd of oil, as well as raising its natural gas supplies through the development of sour gas reserves and optimisation of existing sweet gas production. Abu Dhabi has a natural advantage for downstream industries because of its hydrocarbon reserves and relatively low production costs.
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