Dubai discovers new oil

Dubai discovers new maritime oil field - Sheikh Mohammed...

A new maritime oil field has been discovered in the emirate of Dubai, the office of the Gulf Arab emirate's ruler said on Thursday.

The offshore oilfield discovered by Dubai is east of the emirate's Rashid field, the office of the Gulf Arab emirate's ruler said.

"Mohammed Bin Rashid brings the good news to the people of the Emirates and announces the discovery of a new marine oil field in Dubai," according to a statement issued from the Dubai media office.

Al Bayan newspaper reported industry sources as saying that the field was "promising".

The UAE is a seven-member federation including the Gulf trade and tourism hub of Dubai. Over 90 percent of the UAE's oil is located in the country's capital Abu Dhabi. (Reuters)

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