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  • ADNOC Signs Offshore Concessions with CNPC Strengthening Ties with World’s Number One Oil Importing Country
    édité le 21/03/2018 - Plus de news de "ADNOC" - Voir la fiche entreprise de "ADNOC"


ADNOC Signs Offshore Concessions with CNPC Strengthening Ties with World’s Number One Oil Importing Country
The China National Petroleum Corporation (CNPC), the world’s third largest oil company, has been awarded stakes in two of Abu Dhabi’s offshore concession areas following the signing of agreements with the Abu Dhabi National Oil Company (ADNOC).

Under the terms of the agreements, CNPC, through its majority-owned listed subsidiary PetroChina, has been granted a 10% interest in the Umm Shaif and Nasr concession and a 10% interest in the Lower Zakum concession.

PetroChina contributed a participation fee of AED 2.1 billion (US $575 million) to enter the Umm Shaif and Nasr concession and a fee of AED 2.2 billion (US $600 million) to enter the Lower Zakum concession. Both concessions will be operated by ADNOC Offshore, on behalf of all concession partners.

The agreements were signed, in Abu Dhabi, by His Excellency Dr Sultan Ahmed Al Jaber, ADNOC Group CEO and His Excellency Wang Yilin, CNPC Chairman. The agreements have a term of 40 years and are backdated to March 9, 2018.

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 CNPC

CNPC is China's largest oil and gas producer and supplier, as well as one of the world's major oilfield service providers and a globally reputed contractor in engineering construction. With a presence in almost 70 countries, we are seeking an even greater international role. We provide energy in a profitable manner, and always attach great importance to our social and environmental responsibilities.


Origine : Communiqué ADNOC

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