Dubai’ s government said Thursday the emirate has discovered a new offshore oil field — the first such discovery by the city-state since 19 years. The media office of the sheikdom’ s ruler did not provide details such as the size of the field or preliminary estimates of its production capacity. An e-mailed statement from the office said the find is located east of the existing Rashid oil field.
Dubai’ s ruler Sheikh Mohammed bin Rashid Al Maktoum “ brought the good news of a new oil discovery in Dubai to the people of United Arab Emirates, stressing that the new field will boost the economic capabilities of the state,” the statement said. The UAE as a whole is the world’ s third-largest oil exporter, although the vast majority of the nation’ s reserves are held by the federal capital Abu Dhabi. Dubai’ s own reserves have been shrinking for years.
The announcement said the new field will increase the emirate’ s total output, though it did not say where production stands now or how much potential the new field offers.
