INPEX has announced that through its subsidiary JODCO Exploration (JEL) (1), it has recently been awarded a production concession by the Supreme Council for Financial and Economic Affairs (SCFEA) of Abu Dhabi in the United Arab Emirates (UAE) for Onshore Block 4. JEL will hold a 40 percent interest in Onshore Block 4, while the Abu Dhabi National Oil Company (ADNOC) will retain the remaining 60 percent. The two companies will jointly advance development and production activities.
Since taking part in the first ever competitive bid round launched by ADNOC in 2018 for new licensing opportunities for the exploration, development and production of oil and gas in Abu Dhabi, and thereafter being exclusively awarded rights to explore Onshore Block 4, JEL as operator discovered multiple conventional oil, condensate and gas reservoirs within the block following drilling operations conducted in 2021.
INPEX expects the production concession to contribute significantly to the expansion of its business in Abu Dhabi, a core business area. The company will continue to develop its business in Abu Dhabi, which has a track record of over 50 years, and strive to help further deepen the cordial relations between the UAE and Japan.
(1) Japan Organization for Metals and Energy Security (JOGMEC) has a 49 percent share in JEL.
Source: INPEX
