The Supreme Council for Financial and Economic Affairs (SCFEA) of the United Arab Emirates (UAE) has awarded three separate production concession agreements to ADNOC and its strategic partners. The concessions correspond to Onshore Block 2 located offshore to the west of the Ghasha field (awarded to ADNOC with 60%, ENI Abu Dhabi with 28%, and PTTEP MENA Limited with 12%), Onshore Block 4 located north of Abu Dhabi City (awarded to ADNOC with 60% and Japan’s JODCO Exploration Limited with 40%), and Offshore Block 5 located offshore near the Zakum field (awarded to ADNOC with 60% and Pakistan International Oil Limited with40%). The blocks are mainly for conventional gas and oil resources.
These concessions are part of the country’s broader strategy to enhance its economic sustainability. The UAE’s power capacity is largely dominated by gas, representing 77% of its 42 GW installed by the end of 2023.
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