Inpex Gets Abu Dhabi Block
State-owned Abu Dhabi National Oil Company (Adnoc) has awarded Abu Dhabi Onshore Block 4 to Japan’s Inpex for 35 years, it said March 17.
A wholly-owned Inpex subsidiary, Jodco Exploration, will hold and manage the interest in the concession on behalf of Inpex, which will hold a 100% stake in the exploration phase, investing up to $176mn, including a participation fee, to explore for and appraise oil and gas opportunities in the block that covers an onshore area of 6,116 km2 from Abu Dhabi city to the boundary with Dubai. Adnoc has the option to hold a 60% stake in the production phase of the concession, it said.
There are two existing undeveloped oil and gas fields in the new concession area, Ramhan and Hudairiat, which both will be appraised by Inpex who will be particularly targeting the geological formations in which they have rich experience through other Abu Dhabi concessions, according to Adnoc.
Ras Sadr-1, the first exploration well drilled in Abu Dhabi is located in Onshore Block 4. It was completed in April 1951 having reached a depth of 13,001 feet.
Following the recent award of Offshore Block 1, Offshore Block 2 and Onshore Block 3 concessions, Onshore Block 4 is the latest block awarded to an international bidder of the geographical areas that were offered for commercial bidding by Adnoc in April 2018.
Banner image courtesy Adnoc