Pakistani group wins rights to Abu Dhabi block
A Pakistani consortium secured rights to an oil and gas block off the coast of Abu Dhabi, the emirate's state oil company ADNOC reported on August 31, estimating that the group would invest $305mn during the exploration phase.
The consortium, comprising Pakistan Petroleum Ltd, Mari Petroleum Co Ltd (MPCL), Oil and Gas Development Co Ltd (OGDCL), and Government Holdings (Private) Ltd (GHPL), was awarded the concession after winning a tender. This marks the first time Pakistani companies have committed to exploring for oil and gas in Abu Dhabi.
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Each consortium member will have a 25% interest in the concession, which covers a 6,223-km2 area some 100 km northeast of Abu Dhabi city.