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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. ....
DUBAI: A Japanese energy firm has been awarded exclusive rights for the exploration, development, and production of oil and gas in a designated area of the Arabian Gulf. Cosmo Energy Exploration and Production Co. (Cosmo) secured the offshore Block 4 contract in the second competitive bidding round organized by Abu Dhabi National Oil Co. (ADNOC). It is expected that Cosmo will invest up to $145 million in exploration and appraisal drilling in an area covering 4,865 square kilometers to the north of Abu Dhabi. A subsidiary of Cosmo will operate the block under the agreement signed with the Abu Dhabi Supreme Council for Financial and Economic Affairs (SCFEA) and ADNOC. ....