Total: strategic partnership in Abu Dhabi
(CercleFinance.com) - Total and Abu Dhabi National Oil Company (ADNOC) have announced signing a concession agreement to launch an unconventional gas exploration program in Diyab, an area that spans over 6,000 square kilometres in Abu Dhabi.
The agreement includes two phases of exploration and appraisal over a period of up to seven years, followed by a 40-year development and operation phase. Total will be the operator over the exploration period with a 40% share alongside ADNOC (60%).
In the event of positive results from exploration, these resources, which potentially amount to several Tcf (one trillion cubic feet) would be developed in successive phases, in response to growing demand for gas in the United Arab Emirates, in addition to export opportunities.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The agreement includes two phases of exploration and appraisal over a period of up to seven years, followed by a 40-year development and operation phase. Total will be the operator over the exploration period with a 40% share alongside ADNOC (60%).
In the event of positive results from exploration, these resources, which potentially amount to several Tcf (one trillion cubic feet) would be developed in successive phases, in response to growing demand for gas in the United Arab Emirates, in addition to export opportunities.
Copyright (c) 2018 CercleFinance.com. All rights reserved.