Adnoc Seeks Investment Injection With Six-Block Licensing Round

Abu Dhabi’s first ever licensing round is aimed at further broadening its partner base after successfully bringing six new IOCs into its upstream sector in recent years.

Abu Dhabi launched its first ever exploration licensing round on 10 April, confirming that six blocks are on offer. The offering consists of four onshore blocks and two offshore blocks. The move is the latest in a series of major shakeups implemented by Adnoc CEO Sultan al-Jaber since his appointment in February 2016 ( MEES, 19 February 2016 ).

Adnoc says the new blocks cover almost 30,000km² and suggests they could “hold multiple billion barrels of oil and multiple trillion cubic feet of natural gas.” It flags up that the area contains “310 targeted reservoirs from 110 prospects and leads” covering both conventional and unconventional leads.

One of the prospects that appears to be covered by the new concessions is the Jarn Yaphour field (Onshore 4) which produced around 5,000 b/d prior to being shut-in in the 1990s over concerns about handling its high sulfur levels. US independent Oxy signed a preliminary agreement in 2008 to develop the field which led nowhere. (CONTINUED - 745 WORDS)


table Adnoc's New Upstream Partners