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  • ADNOC Signs Major Offshore Concession Agreements with Total and Embarks on Giant Gas Cap Development
    édité le 19/03/2018 - Plus de news de "ADNOC" - Voir la fiche entreprise de "ADNOC"


ADNOC Signs Major Offshore Concession Agreements with Total and Embarks on Giant Gas Cap Development
The Abu Dhabi National Oil Company (ADNOC) today signed agreements with Total of France, awarding them stakes in two of Abu Dhabi’s new offshore concessions. Under the terms of the agreements, Total has been awarded a 20% interest in the Umm Shaif and Nasr concession and a 5% interest in the Lower Zakum concession.

Total is ADNOC’s largest and one of its longest international partners, active in Abu Dhabi’s oil and gas sector since 1939. Today, the French super-major collaborates with ADNOC across the value chain, from offshore and onshore exploration, development and production, to processing, products and shipping.

Total contributed a participation fee of AED 4.2 billion (US $1.15 billion) to enter the Umm Shaif and Nasr concession and a fee of AED 1.1 billion (US $300 million) to enter the Lower Zakum concession. Both concessions are operated by ADNOC Offshore, a subsidiary of ADNOC, on behalf of all concession partners.

About the Abu Dhabi National Oil Company (ADNOC)

ADNOC is one of the world’s leading oil and gas companies and is fully owned by the government of the Emirate of Abu Dhabi. The company was founded in 1971 and is active in all areas of the oil and gas industry.
It has 17 specialized subsidiaries and joint ventures operating in both upstream and downstream sectors. The ADNOC Group is active in the United Arab Emirates and across the whole world and produces more than 2.7 million boe a day. In the past few years, significant achievements were made in the expansion of the development of gas fields to meet the increased demand from industry gas users; and gas injection requirements in order to enhance the oil and condensate recovery from the producing fields.
While carrying out all its business activities, ADNOC is committed to sustainable development, ensuring a harmonious balance between people’s needs and Earth’s resources, adhering to the best international practices and supporting all programs and initiatives of environment protection while its track record in HSE sets the standard not only at the regional Gulf level but at the international level as well.

About Total

Total is a global integrated energy producer and provider, a leading international oil and gas company, and a major player in solar energy with SunPower and Total Solar. Our 98,000 employees are committed to better energy that is safer, cleaner, more efficient, more innovative and accessible to as many people as possible. As a responsible corporate citizen, we focus on ensuring that our operations in more than 130 countries worldwide consistently deliver economic, social and environmental benefits.


Origine : Communiqué ADNOC

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