The Supreme Council for Financial and Economic Affairs (SCFEA) in Abu Dhabi has awarded three separate production concession agreements to ADNOC and its strategic partners.
In relation to onshore Block 4 in Abu Dhabi, the Council awarded a production concession agreement to ADNOC and Japan’s JODCO Exploration Limited (JEL), a subsidiary of INPEX Corporation. JEL will hold a 40 percent participating interest in the concession area, while ADNOC will hold the remaining 60 percent. The concession is located north of Abu Dhabi City.
In relation to offshore Block 2 in Abu Dhabi, the Council also awarded a production concession agreement to ADNOC, ENI Abu Dhabi B.V. (ENI), and PTTEP MENA Limited (PTTEP). ENI and PTTEP will hold 28 percent and 12 percent participating interests, respectively, in the concession area, while ADNOC will hold the remaining 60 percent. The production concession is located offshore to the west of the Kasha field, which is primarily focused on conventional gas resources.
The Council has also awarded a production concession agreement to ADNOC and Pakistan International Oil Limited (PIOL) in respect of Offshore Block 5 in Abu Dhabi. PIOL will hold a 40 per cent stake in the concession area, with ADNOC holding the remaining 60 per cent. The production concession is located offshore near the Zakum field, which is primarily producing conventional oil resources.
These concessions are part of a broader strategy to enhance the sustainability of Abu Dhabi’s economy, ensuring that its resources continue to create value for future generations, while supporting the long-term economic growth and sustainability of the UAE.
Since its inception, SCFEA has been central to shaping the emirate’s policies relating to finance, investment, the economy, petroleum and natural resources. The Council oversees the implementation of these policies, ensuring they are aligned with broader strategies, and monitors the performance of relevant companies in the oil and gas sector, including ADNOC. SCFEA is committed to supporting Abu Dhabi’s objectives to ensure a bright and sustainable future for generations to come.
