Adnoc and Petronas sign agreement for exploration
Adnoc and Petronas sign exploration deal
The Middle Eastern NOC is tapping Malaysian expertise to help it develop an unconventional resource
Abu Dhabi’s state-owned Adnoc and Malaysia’s Petronas have signed an agreement that will see the Malaysian company explore and appraise a 2,000km concession area in Abu Dhabi’s Al Dhafra region, known as Unconventional Onshore Block 1. Under the deal, Petronas will operate and own 100pc of the concession and have up to six years to carry out the exploration and appraisal work. Adnoc has the option to take a 50pc stake in any subsequent production agreement, with the concession to run for 30 years. Petronas will be building on what the Middle Eastern NOC terms its “prior exploration and de-risking activities”. This includes an ongoing 3D seismic survey of the concession area, which Petronas w
Also in this section
18 September 2024
In the first part of the fifth chapter of our history of oil and gas, we move the story on to the climate crisis and push for net-zero carbon emissions
18 September 2024
The burden of subsides on national economies seems to outweigh their political point scoring benefits, but removing them is not an easy task
17 September 2024
Decarbonisation strategy is already hurting upstream appetite and threatening near-term energy security
16 September 2024
The third part of our fourth chapter on the history of oil takes the story of gas to the present day with the rise of LNG and the creation of a truly global market
