Boston, MA -- (SBWIRE) -- 01/27/2014 -- The UAE will continue to a major focus of upstream investment as it targets increasing production to 3.5mn barrels per day (b/d) by 2018. However recent reports that this date may be delayed to 2020 in light of project delays could also be a result of rapidly growing competition for export markets. We expect steady growth in oil and gas production over the course of our forecast period. Increased production of the latter will be critical to limiting the UAE's import requirement as consumption continues to outstrip demand, even with some US$25bn set to be investment in gas projects in Abu Dhabi alone.
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