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Yahoo
a day ago
- Business
- Yahoo
INPEX secures Onshore Block 4 concession in Abu Dhabi
Japanese oil company INPEX has secured a production concession for Onshore Block 4 in Abu Dhabi, United Arab Emirates, strengthening its Middle East portfolio. The Supreme Council for Financial and Economic Affairs of Abu Dhabi awarded the concession to INPEX's subsidiary Jodco Exploration (JEL). JEL will hold a 40% interest in Onshore Block 4, with Abu Dhabi National Oil Company (ADNOC) retaining the remaining 60%. The partners are set to jointly advance development and production activities in the region. This follows INPEX's participation in ADNOC's first competitive bid round in 2018, which led to the exclusive rights to explore Onshore Block 4 and the subsequent discovery of multiple oil, condensate and gas reservoirs after drilling operations in 2021. The production concession is expected to significantly contribute to INPEX's business expansion in Abu Dhabi, where the company has been operating for more than five decades. Apart from the Onshore Block 4 concession, the Abu Dhabi council has also awarded two other oil and gas production concessions. A production concession agreement has been awarded to ADNOC, ENI Abu Dhabi and PTTEP MENA for Offshore Block 2 in Abu Dhabi. The production concession is situated offshore to the west of the Ghasha field, focusing primarily on conventional gas resources. ADNOC will hold a 60% interest in the concession area, while ENI and PTTEP will hold 28% and 12% participating interests, respectively. The third and final production concession agreement has been awarded to ADNOC and Pakistan International Oil Limited (PIOL) for Offshore Block 5 in Abu Dhabi. PIOL will own a 40% participating interest in the concession area, located offshore near the Zakum field, primarily producing conventional oil resources. ADNOC will hold the remaining 60% interest. "INPEX secures Onshore Block 4 concession in Abu Dhabi" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Al Etihad
2 days ago
- Business
- Al Etihad
Supreme Council for Financial and Economic Affairs awards 3 oil and gas production concessions to ADNOC and partners
11 June 2025 21:26 ABU DHABI (ALETIHAD)The Supreme Council for Financial and Economic Affairs (SCFEA) has awarded three separate production concession agreements to ADNOC and its strategic council awarded a production concession agreement to ADNOC and Japan's JODCO Exploration Limited (JEL), a subsidiary of INPEX Corporation, in respect of Onshore Block 4 in Abu Dhabi. JEL will hold a 40 percent participating interest in the concession area, while ADNOC will hold the remaining 60 per cent. The concession lies north of Abu Dhabi council also awarded a production concession agreement to ADNOC, ENI Abu Dhabi B.V. (ENI), and PTTEP MENA Limited (PTTEP) in respect of Offshore Block 2 in Abu Dhabi. 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 Ghasha field, focusing primarily on conventional gas council has also awarded a production concession agreement to ADNOC and Pakistan International Oil Limited (PIOL) in respect of Offshore Block 5 in Abu will hold a 40 percent participating interest in the concession area, while ADNOC will hold the remaining 60 percent. The production concession is located offshore near the Zakum field, primarily producing conventional oil 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 UAE's long-term economic growth and its inception, SCFEA has been central to shaping the emirate's policies related to financial, investment, economic, petroleum, and natural resources. The council oversees the implementation of these policies, ensuring they align with broader strategies, and monitors the performance of relevant entities within 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.
