Friday , January 22 2021

ADNOC signs non-traditional Gas Concession with Total

Newspaper Al Ittihada

Economic development

    Al Jaber and Bouyan during signing of the agreement (from the source)

Al Jaber and Bouyan during signing of the agreement (from the source)

Abu Dhabi (Al Ittihad)

The oil company Abu Dhabi (ADNOC) yesterday signed a concession contract with the French company Total for a 40% concession in the unconventional gas pool Ruwais to investigate, assess and develop unconventional gas sources. While the ADNOC group will retain 60% of this strategic concession, this is an important step towards producing billions of cubic feet of unconventional gas resources per day before 2030.
The agreement was signed in ADNOC's Thamama Oil Exploration Center, Dr. Sultan Ahmed Al Jaber, State Secretary, ADNOC Chief Executive Officer and its group of companies, and Patrick Boyan, President and CEO of Total. The first such species in the region is for non-traditional resources, covering six to seven years of research and evaluation, followed by 40 years of production.
"This agreement is in line with the lead guidelines to ensure energy security, increase value and increase economic recovery of carbon resources, and is an important step in the development of gas resources in Abu Dhabi, while implementing our strategic goal of providing sustainable gas supply to the UAE" "said Al Jaber. .
"Total is one of the oldest and largest international ADNOC partners operating in the oil and gas sector in Abu Dhabi since 1939. Through our consensus we will be able to maximally increase the value of unconventional gas reserves, Our efforts to achieve self-sufficiency of gas in the UAE with the potential to become a source. "
"We have received a great deal of interest from new partners who want to participate in other areas of unusual oil and gas concessions in Abu Dhabi, and conversations with them are moving forward and their results will be published in due course."
He added that ADNOC continued its efforts to improve its knowledge and knowledge in research and development of non-traditional gas resources in Abu Dhabi, thus increasing efficiency in hydraulic drilling and cracking, enabling it to maximize the value of unconventional resources with many challenges huge oil and gas fields in the Emirate of Abu Dhabi.
Partnership between ADNOC and Total covers various areas and aspects of the sector, including exploration, development and production of oil and gas from land and land fields, and processing, processing and transport. In March, ADNOC concluded a concession contract with Total, received 20% of the Um El Sheef & Nasr concession and 5% of the Lower Zakuma concession.
"We are delighted to be the first international non-traditional gas exploration company working with ADNOC in Abu Dhabi to strengthen our long-term strategic relationship with a well-known country and region, and we are committed to supporting the UAE in implementing its ambitions. Develop this large non-conventional gas source and increase its value, especially since the Thayab gas pool has the potential to compete with those provided by North America's gas pools, making it a unique addition to our research portfolio. "
The announcement follows adoption by the Supreme Petroleum Council ADNOC a new comprehensive gas strategy that will enable the UAE to achieve self-sufficiency of gas and export potential in the future. In addition to the development of non-traditional Al-Thiab gas pool in the Ruwais area, ADNOC will work to maximize and maximize the value of galactic galactic and gas gala Ghala, Gasha and Dalma in Abu Dhabi as well as a number of new natural gas will continue to be valued and developed as a company conducts its research activities.

ADNOC signs non-traditional Gas Concession with Total «ADNOC» – Signing contract – concession – Field – Gas – non-traditional – with «total»

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