Construction of the UAE's first nuclear power plant in Barakah is over 75% complete and on schedule to begin operations in 2020. The four-reactor plant will provide a quarter of the UAE's electricity needs and reduce carbon emissions by 12 million tons annually. Meanwhile, Norwegian company DNO made an oil discovery in Iraqi Kurdistan, and Chariot Oil & Gas received approval to farm out part of its Rabat Deep Offshore permits in Morocco to Eni, paving the way for drilling in early 2018. The US oil industry is also showing cautious optimism in 2017 after two difficult years, with some drilling picking up following OPEC's production cut agreement and higher oil prices.