PETRONAS Abu Dhabi, a wholly-owned subsidiary of PETRONAS, was granted a new oil and gas exploration concession in Onshore Block 2, by the Supreme Council for Financial and Economic Affairs (SCFEA).
Under the agreement, PETRONAS Abu Dhabi will hold 100 per cent equity and assume operatorship during the exploration period.
The Onshore Block 2, located within the Al Dhafra region of Abu Dhabi covering an area of over 7300 sq kms, is PETRONAS Abu Dhabi’s third concession, following the Unconventional Block 5 in 2024 and the Unconventional Block 1 in 2022.
'We are excited about this new venture and extend our deepest gratitude to SCFEA for their unwavering trust and collaboration. This endeavour broadens PETRONAS Upstream’s portfolio in Abu Dhabi, incorporating both unconventional and conventional resources, offering potential for exploration growth' said PETRONAS Executive Vice President and Chief Executive Officer of Upstream, Mohd Jukris Abdul Wahab.
In alignment with PETRONAS' net-zero targets, PETRONAS Abu Dhabi remains committed to exploring a sustainable approach for its operations.
As a national oil company with a global presence, PETRONAS remains committed to balancing domestic obligations while seizing international opportunities, maintaining a robust business portfolio amidst the evolving energy landscape.
Source: PETRONAS
