UAE: Gas Deals Total, Adnoc Sign Concession Contract to Launch Unconventional Gas Exploration
The project will be carried out in the high potential Diyab play that spreads over 6,000 sq km in Abu Dhabi. Total will operate the exploration phase with a 40 % interest and Adnoc will hold the remaining 60 % interest.
Paris/France – Total and Abu Dhabi National Oil Company (Adnoc) have recently signed a concession agreement to launch an unconventional gas exploration programme in the high potential Diyab play. The location spreads over 6,000 sq km to the west of the prolific Adnoc Onshore concession, in Abu Dhabi.
The concession allows for two exploration and appraisal phases for a period of up to 7 years, followed by a 40 year development and production period. Total will operate the exploration phase of this new concession with a 40 % interest, while Adnoc will hold the remaining 60 % interest. In case of positive exploration, this multi-Tcf opportunity will be developed in stages in line with the growing gas demand in the UAE and potential export opportunities.
This agreement is a result of close cooperation between Adnoc and Total towards identifying ways of unlocking the unconventional gas potential in Abu Dhabi.