Spanish integrated oil group Cepsa said Nov. 5 its third-quarter upstream crude production had risen 14% on the year to 80,400 b/d on the back of rising production in the UAE and Algeria, reflecting higher OPEC quotas. The company, which has Abu Dhabi investment company Mubadala as its majority owner, said its UAE crude production had reached 36,100 b/d in the quarter, up 32% on the year, while its Algerian output increased 7% over the period to 36,500 b/d. Cepsa was awarded 20% stakes in Abu Dhabi’s Sateh Al Razboot (SARB) and Umm Lulu concession in 2018 and the assets are expected to bring the company 43,000 b/d once they reach plateau.
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