One concession was awarded to ADNOC and Japan’s JODCO Exploration, a subsidiary of INPEX, for Onshore Block 4, located north of Abu Dhabi City. JODCO will hold a 40% stake, and ADNOC will retain 60%. Drilling campaigns carried out on the block since 2021 have discovered multiple oil and gas reservoirs.
Global engineering and consulting firm Wood has been awarded a contract to provide detailed engineering design for Package 5 of ADNOC Offshore’s Lower Zakum Long-Term Development Phase 1 project on Das Island, Wood announced on Wednesday.
U.S. oil and gas exploration and production company EOG Resources Inc. has secured a new exploration concession in Abu Dhabi. The company said in a media release that it has been awarded Unconventional Onshore Block 3 (UCO3) by Abu Dhabi’s Supreme Council for Financial and Economic Affairs (SCFEA).
Abu Dhabi National Oil Co. is working with advisers to evaluate an offer for the assets that could potentially be worth about $9 billion, said the people, who asked not to be identified as the matter is private. Other suitors are also circling Aethon’s natural gas and midstream assets that are mostly based in Texas and Louisiana, the people said.
Deliberations are in the early stages and no final agreements have been reached, the people said. It isn’t immediately clear if recent market volatility would impact the transaction.
The surveying project was started by ADNOC in 2018 and, in what has become one of the world’s largest continuous seismic surveys, it has come to cover 85,000 square kilometres across onshore and offshore areas in Abu Dhabi.
Abu Dhabi’s Supreme Council for Financial and Economic Affairs (SCFEA) awarded Indian Oil Corporation (IOC) and Bharat Petroleum Corporation Limited’s (BPCL) joint venture, Urja Bharat Pte Limited (UBPL), an oil and gas production licence for Onshore Block 1, BPCL announced on Wednesday.
Abu Dhabi’s national oil company ADNOC is expected to soon make a formal offer to buy Germany’s chemicals giant Covestro for $15.9 billion (14.4 billion euros) including debt, the Financial Times reported on Wednesday, citing sources with knowledge of the plan.
Abu Dhabi’s ADNOC has signed a long-term deal for the 1-million-tonne-per-year supply of LNG to Indian Oil, the emirate’s Media Office said on Monday.