INPEX, a major Japanese resource development company, has announced a policy to increase production capacity to 1.5 times the current level within 10 years with regard to crude oil production, which it holds interests in the UAE = United Arab Emirates.

Since 1973, INPEX has been engaged in crude oil production business in the UAE by holding interests.



INPEX President Takayuki Ueda gave an interview to NHK on the 24th during his visit to Abu Dhabi, the capital of the UAE.



In this, President Ueda commented on crude oil production in the UAE, the company's main business, saying, "We would like to increase capital investment in the oil fields in which we have interests, expand production facilities, and increase production by 1.5 times within 10 years. ' said.



Regarding the reason for this, he indicated that there is a possibility that the competition for procurement of crude oil will intensify against the background of Russia's invasion of Ukraine, etc., and that it is necessary to increase production capacity for Japan's stable supply of energy.



Regarding crude oil, the EU = European Union has banned the import of Russian crude oil from the 5th of last month as an additional sanction on Russia, and there are concerns about the tight supply and demand in the medium to long term.



The UAE is a member of OPEC (Organization of Petroleum Exporting Countries), and currently, Russia and other countries are joining OPEC Plus, which continues to coordinate production cuts. am.