PETRONAS wins new oil and gas exploration concession onshore Abu Dhabi
(WO) 鈥 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% 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 km2, is PETRONAS Abu Dhabi鈥檚 third concession, following the Unconventional Block 5 in 2024 and the Unconventional Block 1 in 2022.
鈥淲e are excited about this new venture and extend our deepest gratitude to SCFEA for their unwavering trust and collaboration. This endeavour broadens PETRONAS Upstream鈥檚 portfolio in Abu Dhabi, incorporating both unconventional and conventional resources, offering potential for exploration growth鈥 said PETRONAS Executive Vice President and Chief Executive Officer of Upstream, Mohd Jukris Abdul Wahab.
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