TOKYO, Oct. 17 (UPI) -- Japanese energy company Inpex Corp. disclosed Friday it started producing oil for the first time at a field off the coast of Abu Dhabi.
Subsidiary Japan Oil Development Co. said production started from the Umm Lulu oil field off the Emirati coast. The company said it expected the field will eventually produce at a peak rate of around 105,000 barrels per day.
Parent company Inpex said oil taken from the field will be transported to an island facility for exports to Japan and other Asian economies.
October analysis from the Platts energy service finds Japanese crude oil demand is at levels not seen since the 9-magnitude earthquake in 2011. Chinese crude oil demand in September was its second highest on record, Platts finds, even though the Chinese economy is slowing down.
The Japanese company is developing the Umm Lulu field through a partnership that includes the Abu Dhabi National Oil Co., British energy company BP and French giant Total.
