Petronas expands with new Abu Dhabi exploration block

Abu Dhabi

ABU DHABI, September 27, 2024 – Petronas Abu Dhabi, a wholly owned subsidiary of Malaysian state giant Petronas, has been granted a new oil and gas exploration concession in Onshore Block 2 in Abu Dhabi by the Supreme Council for Financial and Economic Affairs (SCFEA), Petronas announced on Thursday.

The block covers an area of 7,320 square kilometres in the Al Dhafra region, bordering Saudi Arabia. It is Petronas Abu Dhabi’s third concession in the emirate after obtaining Unconventional Block 5 in 2024 and Unconventional Block 1 in 2022.

Under the agreement, Petronas Au Dhabi will hold 100% equity and assume operatorship during the exploration period.

“This endeavour broadens Petronas Upstream’s portfolio in Abu Dhabi, incorporating both unconventional and conventional resources, offering potential for exploration growth,” said Petronas executive vice-president and CEO of upstream, Mohd Jukris Abdul Wahab.

The concession comes after the completion of Abu Dhabi’s first and second exploration concession bid rounds launched in 2018 and 2019, which resulted in the award of 11 blocks to international energy companies.

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