Japanese state-backed oil firm Inpex announced on 16 January that it has agreed on an extension to its contract to jointly develop the Satah and Umm Al Dalkh fields offshore Abu Dhabi. The contract was due to expire on 8 March 2018, but will now run until 31 December 2042. Inpex’s stake is held by its wholly-owned subsidiary Jodco.
The two fields are operated by the Zakum Development Company (Zadco), which also operates the much larger Upper Zakum field. Inpex’s statement puts current Satah production at 20,000 b/d. The Japanese firm has 40% participating interest at Satah, with the remaining 60% held by Abu Dhabi National Oil Company (Adnoc). (CONTINUED - 812 WORDS)