Adnoc Eyes Unconventional Riches As It Launches Second Bid Round

Adnoc is turning its attention to deep gas reservoirs and unconventional plays as it launches its second licensing round just weeks after concluding the first. A total of five blocks are offered up, three offshore and two onshore.

Adnoc launched its second licensing round on 1 May with Upstream Executive Director Abdulmunim al-Kindy saying he intends to “aggressively accelerate our exploration program.” Five blocks have been offered up and bids are due by end-November (see table 1). Mr Kindy says that Adnoc plans to make the first awards in 1Q 2020.

This new bid round has been launched barely a year after Adnoc announced its debut licensing round in April 2018 ( MEES, 13 April 2018 ). That first bid round offered up six blocks and was completed in March this year ( MEES, 29 March ). Five of the six blocks were awarded, with the remaining Onshore Block 2 withheld while Adnoc conducted further studies on its unconventional potential. It has now been included in the new bid round. (CONTINUED - 1379 WORDS)

DATA INSIDE THIS ARTICLE

table 1: Abu Dhabi 2019 Licensing Round
table 2: Abu Dhabi 2018 Licensing Round Awards