Abu Dhabi National Oil Company (ADNOC) is combining its Umm Shaif and Lower Zakum streams to create a new ‘Das Crude,’ with sales of the new blend to start from July 2014, company officials said on 12 November. The decision to commingle the two grades was taken in anticipation of growing production from existing and new offshore fields operated by the ADNOC-led Abu Dhabi Marine Operating Company (ADMA-OPCO) consortium. ADMA-OPCO is targeting total output of nearly 1mn b/d by 2020 from around 600,000 b/d currently. Three-quarters will be Das.
Das quality will, not surprisingly, be between the two (similar) component grades at 38.5-39.5° API and 1.3%S (see table). ADNOC marketing and refining director Sultan al-Mehairi does not expect any significant change in the official selling price of the new blend. “Both grades were fetching very high prices. I think the new crude blend will be in the same range…[it] will not differ that much from the Lower Zakum price,” Mr Mehairi says. He adds that ADNOC will wait to see market reaction during a six-month transition period, making adjustments as necessary. (CONTINUED - 929 WORDS)
