UAE Minister of State and ADNOC Group CEO, Sultan Ahmed al-Jaber, speaks during the Abu Dhabi International Petroleum Exhibion and Conference (ADIPEC) on November 13, 2017, at the Abu Dhabi National Exhibition Centre. / AFP / KARIM SAHIB
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The Abu Dhabi National Oil Company said Tuesday it had signed an agreement with U.S. and Japanese oil firms to extend their concessions and boost output at the emirate's biggest oil field.ADNOC said in a statement that it signed the agreement with U.S. giant ExxonMobil and Japan's INPEX to raise output at the Upper Zakum offshore field by around 350,000 barrels per day to 1 million bpd by 2024 .ADNOC has 60 percent of the concession, ExxonMobil 28 percent and INPEX 12 percent.
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