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The company will be developed Japanese oil Co., Ltd. "Goodco"A wholly owned company"Inpex", Participation management on behalf of the parent company, according to Emirates News Agency (WAM).
Under the agreement, you will receive "Inpex" 100% of the exploration phase and will invest more than 646 million AED for approximately $ 176 million to explore and evaluate opportunities. extraction. Oil and gas In "Wild Zone 4".
The area covers an area of 6,116 square kilometers, starting from the area around Abu Dhabi and extending to the border with the emirate Dubai.
Following the exploration and evaluation of existing resources, "Inpex" Develop and produce any commercially viable discovery, while owning "ADNOC" Possibility to retain a 60% stake in the concession at the production stage.
The concession contract was signed by the Minister of State and the Director General. From the national oil company of Abu Dhabi "ADNOC" And his group of companies, Dr. Sultan bin Ahmed Al Jaber, Chief Executive Officer and Chairman of the Board "Inpex", Taka Yokoyoida.
And prepares "Wild Zone 4" The last area to be awarded to an international bidder for the areas it has proposed "ADNOC" In April 2018 for competitive auctions
Studies indicate that the new exploration areas in Abu Dhabi contain significant resources of several billion barrels of oil and trillions of cubic feet of natural gas.
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Jodco, a wholly owned subsidiary of INPEX, will manage the stake on behalf of the parent company, according to Emirates News Agency (WAM).
Under this agreement, Inpex will receive 100% of the capital of the exploration phase and will invest more than 646 million AEDs for approximately $ 176 million to explore and evaluate the potential for mining. oil and gas in zone 4.
The area covers an area of 6,116 square kilometers, starting from the area around Abu Dhabi and extending to the border with Dubai.
After exploration and evaluation of existing resources, INPEX will have the opportunity to develop and produce any commercially viable discovery, while ADNOC will have the opportunity to retain 60% of the concession at the production stage.
The agreement was signed by the State Minister and Chief Executive Officer of the National Oil Company of Abu Dhabi (ADNOC), Dr. Sultan Bin Ahmed Al Jaber, and by the Chief Executive Officer General of INPEX, Taka Yokwaida.
"Land Area 4" is the last area to be awarded to an international bidder for the areas proposed by ADNOC in April 2018 for competitive bidding.
Studies indicate that the new exploration areas in Abu Dhabi contain significant resources of several billion barrels of oil and trillions of cubic feet of natural gas.
