In April 2018, as part of Abu Dhabi’s new block licensing strategy, ADNOC launched its first-ever competitive bid round for new licensing opportunities for the exploration, development, and production of oil and gas in Abu Dhabi. Following the successful conclusion of the debut round, ADNOC has launched a second competitive licensing bid round for another set of major onshore and offshore blocks across the emirate of Abu Dhabi. 

This second block bid round provides the next major opportunity for both new and existing partners to join ADNOC in further unlocking untapped resources in one of the world’s largest hydrocarbon super-basins and a trusted and reliable investment environment.

Five blocks have been announced for commercially competitive bidding in this second round, three of which are offshore and two are onshore.

Based on existing data from detailed petroleum system studies, seismic surveys, log files and core samples from appraisal wells, estimates suggest these new blocks could hold multiple billion barrels of oil and multiple trillion cubic feet of natural gas. 

Some of the blocks already have discoveries, and within the combined area there are 290 targeted reservoirs from 92 prospects and leads. In addition to the country’s conventional potential, one of the offered blocks is expected to contain significant unconventional resources.

Abu Dhabi’s licensing strategy represents a major advancement in how Abu Dhabi maximizes value from its hydrocarbon resources through commercially competitive bidding, to secure the right partners for the right opportunities, and accelerate exploration and development of new commercial prospects. It is also consistent with the ADNOC Group’s expanded approach to strategic partnerships across its full value chain.

The UAE is the world’s seventh-largest oil producer, with about 96 percent of its reserves within the emirate of Abu Dhabi. Located in one of the world’s largest hydrocarbon super-basins, there remains significant undiscovered and undeveloped potential in the numerous stacked reservoirs.

KeyFacts Energy: UAE country page   l   Link to ADNOC UAE country profile

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