Adnoc’s debut six-block licensing round has got off to a strong start with confirmation of the first award announced on 12 January. Italy’s Eni and Thailand’s state-owned PTTEP were awarded the two offshore blocks within the tender. Eni will have 70% and PTTEP 30% of the blocks during the exploration phase which can last up to nine years.
Adnoc CEO Sultan al-Jaber announced the award at the Atlantic Council Global Economic Forum in Abu Dhabi on 12 January, saying that the award represents “the beginning of a new wave of exploration that will leverage our resources and further enhance Abu Dhabi’s position as an essential energy provider to the world.” (CONTINUED - 1299 WORDS)
