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Adnoc awards Japan’s Cosmo offshore exploration block ABU DHABI, February 11, 2021 The Abu Dhabi National Oil Company (Adnoc) has signed an exploration concession agreement, awarding the exploration rights for Abu Dhabi’s Offshore Block 4 to Cosmo E&P Albahriya, a wholly-owned subsidiary of Japan’s Cosmo Energy Holdings. The award has been approved by Abu Dhabi’s newly formed Supreme Council for Financial and Economic Affairs (SCFEA) and marks the first of such awards endorsed by the SCFEA. The award of Offshore Block 4 follows the recent exploration block awards to Occidental as well as a consortium led by Italy’s Eni and Thailand’s PTTEP, highlighting Adnoc’s ability to continually deliver value in Abu Dhabi’s second competitive block bid round and leverage its strategic partnerships to accelerate the exploration and development of Abu Dhabi’s hydrocarbon resources. ....
ADNOC Awards Cosmo Offshore Exploration Block in Abu Dhabis Second Competitive Block Bid Round édité le 11/02/2021 - Plus de news de ADNOC - Voir la fiche entreprise de ADNOC The Abu Dhabi National Oil Company (ADNOC) announced, the signing of an exploration concession agreement, awarding the exploration rights for Abu Dhabis Offshore Block 4 to Cosmo E&P Albahriya Limited, a wholly-owned subsidiary of Japans Cosmo Energy Holdings Co., Ltd. (Cosmo). The award has been approved by Abu Dhabis newly formed Supreme Council for Financial and Economic Affairs (SCFEA) and marks the first of such awards endorsed by the SCFEA. ....
Cosmo was selected after a very competitive bid round. They bring expertise and understanding of our offshore environment, technology, and market access, said Dr Sultan Al Jaber, group chief executive at Adnoc and minister of industry and advanced technology. The agreement with Cosmo, a longstanding player in Abu Dhabi s oil and gas industry, is built on the strategic bilateral relationship between the UAE and its biggest importer of energy products. Japan first imported oil from the UAE in the early sixties, when crude from the Umm Shaif offshore field was delivered to the country. The world s third-largest economy imports 30 per cent of its crude from the UAE. ....
UAE: ADNOC awards offshore exploration block to Cosmo in Abu Dhabi’s second competitive block bid round 10 Feb 2021 Cosmo awarded exploration concession for Offshore Block 4 and will invest up to $145 million (AED532 million) during the exploration phase Agreement further strengthens ADNOC’s long-standing partnership with Cosmo as well as the UAE-Japan strategic bilateral relationship The Abu Dhabi National Oil Company (ADNOC) has signed an exploration concession agreement, awarding the exploration rights for Abu Dhabi’s Offshore Block 4 to Cosmo E&P Albahriya, a wholly-owned subsidiary of Japan’s Cosmo Energy Holdings. The award has been approved by Abu Dhabi’s newly formed Supreme Council for Financial and Economic Affairs (SCFEA) and marks the first of such awards endorsed by the SCFEA. ....