Abu Dhabi has carved three new offshore concessions from Adma, which expired on 8 March: 360,000 b/d Lower Zakum, 310,000 b/d Umm Shaif & Nasr, and the 20,000 b/d Sarb & Umm Lulu. Five weeks after a state-led Indian consortium became the first to put pen to paper (MEES, 16 February), the shake-up is nearing completion.
Adnoc signed deals with France’s Total and China’s CNPC for stakes at Lower Zakum and Umm Shaif & Nasr, filling the 40% available for IOCs at each. This leaves just 20% available at the smallest of the three, Sarb & Umm Lulu (see charts). Adnoc will retain 60% at each of the concessions which are for 40 years to 2058. (CONTINUED - 760 WORDS)
