Adnoc is moving ahead with its unconventional program, and this year will be pivotal for its ambitions. Until now, unconventional development has been firmly in a de-risking phase, with its Adnoc Drilling subsidiary more than halfway through a 144-well first phase campaign. Adnoc is now preparing to enter the next phase and discussions are underway with concession partners over taking FID in the coming months.
“The Adnoc team is working on the FIDs in terms of their submissions as we speak… and the negotiations with the concession partners are going on as we speak. So the FIDs are well on track [for] this year. We should have some of them come in the first half of the year, and then the rest would follow in the second half of the year,” Adnoc Drilling CFO Yousef Salem said during the company’s Q4 earnings call. (CONTINUED - 717 WORDS)
