UAE to seek partners for post-easy oil era

The UAE, the fourth-largest oil producer in the Organisation of Petroleum Exporting Countries, or Opec, is seeking partnership with international energy companies to access the technology required to expand production capacity in the era of post-easy oil, Energy Minister Mohammed bin Dha’en Al Hamili said on Monday.

For much of the 20th century, the Gulf has been blessed with a steady flow of low-cost oil and gas production, thanks to its abundance of conventional reservoirs — in parts of Iraq crude oil has been known to bubble to the surface without any assistance.

Article by Links Group on Jan 11th 2012