Abu Dhabi’s Supreme Council for Financial and Economic Affairs (SCFEA) announced on 11 June that it has awarded three production concessions to Adnoc and its “strategic partners.” All three are for previously awarded exploration concessions, where the license holders made commercially viable discoveries/appraisals.
Nine exploration blocks were awarded through two licensing rounds launched in 2018 and 2019, and this week’s announcements brings the total number that have been upgraded into production concessions to four. Only one exploration concession has been relinquished so far; the Offshore 1 asset held by Eni (70%) and Thailand’s PTTEP (30%) (MEES, 7 February). (CONTINUED - 718 WORDS)
