Al Ittihad Newspaper
Al Jaber and Bouyanih sign contract (from source)
Abu Dhabi (Al Ittihad)
The Abu Dhabi National Oil Company (ADNOC) has signed a concession agreement with the French company Total to explore, evaluate and develop 40% of the quality gas resources in the non-traditional gas basin of Ruwais, a French joint venture. The ADNOC Group maintains 60% of this strategic concession, an important step in the production of 1 billion cubic feet per day of nontraditional gas resources before 2030.
The agreement was signed at ADNOC's Thamama Oil Exploration Center by ADNOC Chief Executive Officer and Group of Companies, and by Patrick Boyan, Chairman and CEO, Sultan Ahmed Al Jaber. It is the first in the region for non-traditional resources, including six to seven years of exploration evaluation and 40 years of production.
"This agreement is consistent with the leadership guidelines to ensure energy security, increase value, and increase the economic return of hydrocarbon resources, and to implement the strategic goals of providing a sustainable economic supply of gas in the UAE, It's a step, "Al Jaber said. .
"Total is one of ADNOC's oldest and largest international partners and has been active in Abu Dhabi's oil and gas sector since 1939. We will be able to maximize the value of non-traditional gas reserves through our agreement, Our efforts to achieve gas self-sufficiency in the UAE, which is likely to be a source ».
"We have received a lot of attention from new partners who are looking to participate in Abu Dhabi's non-traditional oil and gas concession field, and discussions with them have been under way, and the results will be announced."
He strives to maximize the value of non-traditional resources with many challenges by increasing ADNOC's expertise and knowledge in Abu Dhabi's non-traditional gas resource development and development, "He said. There is a huge oil and gas field in the Emirates of Abu Dhabi.
The partnership between ADNOC and Total covers a wide range of sectors and aspects of the field, including oil and gas exploration, development and production, refining, processing and shipping on land and onshore. In March, Total, Um El Sheef & Nasr Brewery And 5% of the Lower Zakum Concession.
"We are delighted to be the first international non-traditional gas exploration company to work with ADNOC in Abu Dhabi, which will strengthen our long-term strategic relationship in well-known countries and regions and support the UAE to implement ambitions "Because the Thayab gas basin has the potential to compete with that offered in the North American shale gas basin, it is a unique addition to our exploration portfolio to develop and maximize the value of these large, nontraditional gas resources."
The announcement follows the adoption of ADNOC's new Comprehensive Gas Strategy, which allows the UAE to become self-sufficient in gas and export potential. In addition to developing the unconventional Al-Thiab gas basin in the Ruwais region, ADNOC not only strives to maximize and maximize the value of the Ghala, Gasha and Dalma giant gas and gas liquefaction projects in Abu Dhabi, but also many new natural gas companies seek exploration Will continue to be evaluated and developed.
ADNOC Signs Non-Traditional Gas Trading with Total
https://www.alittihad.ae/article/74105/2018/ «ADNOC »- Signing contract – Concession – Field – Gas – Non-traditional -« Total amount »