Monitoring Desk
The Supreme Council for Financial and Economic Affairs (SCFEA) has awarded three major oil and gas production concession agreements to the Abu Dhabi National Oil Company (ADNOC) and its international partners, reinforcing the UAE’s strategy to sustainably develop its hydrocarbon resources and drive long-term economic growth.
The first agreement covers Onshore Block 4, located north of Abu Dhabi City. Japan’s JODCO Exploration Limited (JEL), a subsidiary of INPEX Corporation, secured a 40% participating interest in the concession, with ADNOC holding the remaining 60%.
The second production concession was awarded for Offshore Block 2, situated to the west of the Ghasha field. ENI Abu Dhabi B.V. (ENI) and PTTEP MENA Limited (PTTEP) will hold 28% and 12% stakes, respectively, while ADNOC retains the controlling 60% interest. The block focuses primarily on conventional gas resources.
The third agreement involves Offshore Block 5, located near the Zakum field, which primarily produces conventional oil. Pakistan International Oil Limited (PIOL) has been awarded a 40% interest, with ADNOC again holding 60%.
These new concessions form part of Abu Dhabi’s broader strategy to ensure the sustainable development of its natural resources, creating long-term value and supporting the emirate’s economic resilience. The SCFEA continues to play a central role in steering financial, investment, and petroleum policies, closely monitoring performance across the energy sector to align with national goals.
“The awarding of these production concessions highlights ADNOC’s role as a key driver of strategic partnerships and energy security, while reinforcing Abu Dhabi’s position as a leading global energy hub,” the council stated.
SCFEA affirmed its commitment to ensuring that the UAE’s natural resources are developed responsibly to benefit future generations, in line with the country’s long-term vision for sustainability and prosperity.
