Cepsa begins marketing crude from two of Abu Dhabi’s largest oilfields

12/31/2018

ABU DHABI -- Cepsa began to market crude this week from its 20% concession in the SARB and Umm Lulu oilfields, which the Abu Dhabi National Oil Company (ADNOC), on behalf of the Abu Dhabi Government, awarded it in February 2018.

Cepsa’s first cargo of 1 MMbbl of light crude left the offshore terminal on Zirku Island (Abu Dhabi) this week, bound for India. Cepsa’s Trading business oversaw the management of the shipment, along with its logistics and marketing.

Cepsa began production in SARB and Umm Lulu fields in August and will reach peak production in 2020. Over the past few months, plant commissioning operations and well-drilling have also been completed.

The oil fields – which are among the world’s 20 largest oil fields in production, given their size and investment – are situated in shallow waters off the coast of Abu Dhabi. The start-up of production and first sale of crude oil are two key milestones for Cepsa as they will have a significant impact in helping to meet the company’s objectives established in its 2030 strategic plan.

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