The concession allows for two exploration and appraisal phases for a period of up to 7 years, followed by a 40-year development and production period. Total will operate the exploration phase of this new concession with a 40% interest, while ADNOC will hold the remaining 60% interest. In case of positive exploration, this multi-Tcf opportunity will be developed in stages in line with the growing gas demand in the UAE and potential export opportunities. This agreement is a result of close cooperation between ADNOC and Total towards identifying ways of unlocking the unconventional gas potential in Abu Dhabi, Total bringing its expertise, personnel and technical know-how.
“We are pleased to be the first international company to pioneer unconventional gas exploration in Abu Dhabi alongside ADNOC. This agreement consolidates our longstanding and strategic relationship in a country and region that we know well. We are committed to supporting the UAE in meeting its ambitions to unlock this significant unconventional gas resource,” said Patrick Pouyanné, Chairman and CEO of Total. “The Diyab play has the potential to be a high impact play ranking alongside the most prolific North American shale gas plays, and is an excellent addition to our exploration portfolio.”
Read the article online at: https://www.oilfieldtechnology.com/exploration/12112018/total-and-adnoc-join-forces-to-launch-unconventional-gas-exploration-in-abu-dhabi/