Abu Dhabi- Mubasher: The Abu Dhabi National Oil Company (ADNOC) began advanced discussions with more than a dozen potential partners who expressed a significant interest in an offshore concession, according to a statement.
The concession, which expires in March 2018, is currently operated by the Abu Dhabi Marine Operating Company (ADMA-OPCO).
The existing ADMA-OPCO concession will be split into two or more concessions with new terms to unlock greater value and increase partnership opportunities.
The concession will be comprised of a mix of the Lower Zakum field, Umm Shaif, Nasr, Umm Lulu, and Satah Al Razboot (SARB) fields.
ADNOC, on behalf of Abu Dhabi's government, will retain a 60% shareholding in the new concession areas.
