Skip to main content

ADNOC awards Pakistan International Oil Ltd. offshore concession

Published by , Editor
Oilfield Technology,


ADNOC has granted a concession to Pakistan International Oil Ltd. for the exploration of petroleum and natural gas in Offshore Block 5.

This is Abu Dhabi’s second competitive bidding round organised by ADNOC for the exploration, development and production of oil and gas.

DWF assisted the client in reviewing and advising on all concession agreements and documents provided by ADNOC in the bidding round, along with assisting the consortium partners to negotiate and agree the shareholders agreement and setting up of the entity in the ADGM, Pakistan International Oil Ltd. in Abu Dhabi, a company that is fully owned by the Pakistani consortium members: Pakistan Petroleum Ltd.; Oil and Gas Development Co. Ltd.; Mari Petroleum Ltd.; and Government Holdings (Private) Ltd. This is the first time that a foreign fully owned subsidiary has been licensed by the Abu Dhabi Global Market (ADGM) to conduct oil and gas activities in the UAE.


Read the latest issue of Oilfield Technology in full for free: Issue 3 2021

Oilfield Technology’s third issue of 2021 starts with a report from Wood Mackenzie focusing on the upstream industry’s fortunes in Asia-Pacific. The rest of the issue is dedicated to features covering offshore engineering, coiled tubing, frac technology, completion technologies, water management, well placement and much more.

Exclusive contributions come from Wild Well Control, Cudd Pressure Control, TMK, NOV, Archer, Tendeka, TETRA Technologies and more.

Read the article online at: https://www.oilfieldtechnology.com/exploration/01092021/adnoc-awards-pakistan-international-oil-ltd-offshore-concession/

You might also like

BKV Corporation shares sustainability report

The report details progress on the company's environmental initiatives, its path to achieving net zero emissions from its owned and operated upstream and natural gas midstream businesses, and updates on employee engagement and safety performance.

 
 

Embed article link: (copy the HTML code below):


 

This article has been tagged under the following:

Upstream news Exploration news Offshore news Oil & gas news