The global economic crisis has led to a downsizing of the production costs to expand the Upper Zakum field in Abu Dhabi, Zakum Development Co's major project manager Salah Al Bufalah has revealed.

Speaking to Emirates Business in the UAE capital, Mr Bufalah stated that while original expansion costs had been slated at between $12 billion (£7.2 billion) and $18 billion.

However, he added: "We expect the expansion costs to go down to between $10bn and $15bn because of the current circumstances in the world economy."

The Upper Zakum field is the second largest field in the Gulf region and the fourth largest in the world. Expansion of the field is expected to boost production by as much as 70 per cent.

The project is likely to bring a large-scale boost to employment for UAE nationals and expats as Zakum Development pursues the government's Emiritization programme with an investment in oilfield training and development.

GetEnergy event for GCC countries November 2009