New Dubai Oil Field Online in a Year

7 February 2010 (Last Updated February 7th, 2010 18:30)

Oil has been discovered at an offshore field in Dubai, the first such discovery in several years. The Al Jalila field, which is east of the existing Rashid oil field, is the fifth field to be discovered by the emirate since the 1960s. The size of the Al Jalila field, estimate

Oil has been discovered at an offshore field in Dubai, the first such discovery in several years.

The Al Jalila field, which is east of the existing Rashid oil field, is the fifth field to be discovered by the emirate since the 1960s.

The size of the Al Jalila field, estimates of reserves and production capacity will be given once studies are completed.

The new field, expected to come online within a year, is expected to boost oil production and strengthen the economic capabilities of Dubai, which is reeling under a debt of more than $80bn.

The UAE government said that Dubai's existing oil reserves will last for another 20 years.