Abu Dhabi launched its first ever exploration licensing round on 10 April, confirming that six blocks are on offer. The offering consists of four onshore blocks and two offshore blocks. The move is the latest in a series of major shakeups implemented by Adnoc CEO Sultan al-Jaber since his appointment in February 2016 (MEES, 19 February 2016).
Adnoc says the new blocks cover almost 30,000km² and suggests they could “hold multiple billion barrels of oil and multiple trillion cubic feet of natural gas.” It flags up that the area contains “310 targeted reservoirs from 110 prospects and leads” covering both conventional and unconventional leads. (CONTINUED - 745 WORDS)
