Dubai - excursions
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OilIf you are in Dubai for the first time, do not look for the drilling derricks - you will not see them.
The oil extraction takes place in the Gulf. The Emirate Dubai is getting back the control of its oil-fields.
From the 1st of April 2007 the right to perform oil extraction in this country turns to the state company Dubai Petroleum Establishment. The company Dubai Petroleum, belonging to American ConocoPhillips, will stop its activity in this country. The oil fields of the Emirate will be administrated and supervised by the Dubai Petroleum Establishment and international group Petrofac.
The reason for the determination of the concession contract was decrease in quantities of the oil extraction during the last decade from 350.000 barrels per day to 140.000 barrels.
A few know that much more oil is extracted in the neighbouring Emirate Abu Dhabi, and even less people know that nearly the whole of oil of this country goes to Japan, instead of the USA or Europe as many believe.
And only a handful knows that certain part from the gain is distributed to the Emirates with no own oil. This money is obtained for their agreement to be a part of the United Emirates.
Now oil gives great opportunities and Dubai takes advantages of this opportunity for its development.
Tourism and High Technologies are the directions we all can see.
I am sure that in the future when there is no more oil in the reserves, the life in Dubai and UAE in general will be on the same level as it is now.