ADNOC signs a non-traditional gas concession with Total

Abu Dhabi (Al Ittihad)

The national oil company of Abu Dhabi (ADNOC) yesterday signed a concession agreement with the French company Total covering 40% of the concession in the unconventional gas basin of Ruwais, in order to explore, to Evaluate and develop unconventional gas resources. The ADNOC group will retain 60% of this strategic concession, which is an important step in the production of 1 billion cubic feet of unconventional gas per day by 2030.
The agreement was signed at ADNOC's Thamama Petroleum Exploration Center, HE Dr. Sultan Ahmed Al Jaber, Minister of State, CEO of ADNOC and its group of companies, and Patrick Boyan, Chief Executive Officer General of Total. It is the first of its kind in the region for non-traditional resources and includes an exploration and appraisal phase of six to seven years followed by a 40-year production phase. .
"This agreement is in line with management's direction to ensure energy security, increase value and increase the economic return of hydrocarbon resources, and is an important step in the development of Abu Dhabi's gas resources, while implementing our strategic objective of providing sustainable economic gas supplies to the UAE, "said Al Jaber. .
"Total is one of the largest and oldest international partners of ADNOC and has been present in the oil and gas sector in Abu Dhabi since 1939. With our agreement, we will be able to maximize the value of unconventional gas reserves, Our efforts to achieve self-sufficiency in gas in the UAE with the potential to become a source.
"We have attracted a lot of interest from new partners wishing to participate in other areas of Abu Dhabi's non-traditional oil and gas concessions, and discussions with them are progressing significantly and their results will be announced later. . "
He added that ADNOC continued its efforts to strengthen its expertise and knowledge in the exploration and development of non-traditional gas resources in Abu Dhabi, thus increasing the efficiency in the field of drilling. and hydraulic cracking, allowing it to maximize the value of unconventional resources by facing many challenges. With giant oil and gas fields in the emirate of Abu Dhabi.
The partnership between ADNOC and Total covers the various areas and aspects of the sector, including the exploration, development and production of oil and gas from offshore and onshore fields, as well as refining, processing and processing. In March, ADNOC entered into a concession agreement with Total, acquired 20% of the Um El Sheef & Nasr concession and 5% of the Bas Zakum concession.
"We are excited to be the first international non-traditional gas exploration company to work alongside ADNOC in Abu Dhabi.This agreement reinforces our long-term strategic relationship in one country and one region. well-known and committed to helping the UAE realize their ambitions.Developing this great unconventional gas resource and maximizing its value, especially since the Thayab gas basin has the potential to compete with those provided by the basins shale gas in North America, so it is a unique addition to our exploration portfolio. "
This announcement follows the adoption by the Supreme Council of the Petroleum Industry of the new global cDNA gas strategy, which will allow the UAE to become self-sufficient in the future in terms of gas potential. and in exports. In addition to the development of the non-traditional Al-Thiab gas basin in the Ruwais region, ADNOC will seek to maximize the value of the giant gas liquefaction projects of Ghala, Gasha and Dalma in Abu Dhabi, as well as a number of new ones. natural gas projects. Will continue to be evaluated and developed as the company continues its exploratory activities.