Last updated on May 15th, 2013
The newly discovered oil field offshore Al-Khalil is expected to begin large scale commercial production of oil in 2011, giving a boost to the economy of Dubai.
The new oil field, named after the daughter of Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, will be the fifth production of the fields in Dubai, since oil was discovered in the 1960s, the Media Office of the Government of Dubai has said.
Initial research and exploration in new oil field off the coast of Dubai provides for commercial scale production within a year, the statement said.
The new field in particular, should “increase oil production in Dubai, whose current oil reserves are about 4 million barrels,” the statement said, adding that could help boost the emirate’s electricity production.