Monitoring Desk
The Supreme Council for Financial and Economic Affairs (SCFEA) has awarded three new oil and gas production concession agreements to the Abu Dhabi National Oil Company (ADNOC) and its international partners, marking a significant step in the UAE’s strategy to maximize value from its hydrocarbon resources.
The concessions include Onshore Block 4, Offshore Block 2, and Offshore Block 5, all located within the Emirate of Abu Dhabi.
In Onshore Block 4, situated north of Abu Dhabi City, Japan’s JODCO Exploration Limited (JEL)—a subsidiary of INPEX Corporation—will hold a 40% stake, while ADNOC retains 60%.
The Offshore Block 2 concession, located west of the Ghasha field and targeting conventional gas resources, has been awarded to a consortium comprising ENI Abu Dhabi B.V. (28%), PTTEP MENA Limited (12%), and ADNOC (60%).
Meanwhile, Offshore Block 5, positioned near the prolific Zakum field and focused on conventional oil production, has been awarded to Pakistan International Oil Limited (PIOL), which will hold a 40% stake, with ADNOC again holding the majority 60%.
The SCFEA stated that these awards align with its broader mandate to support economic diversification and long-term energy security. The new agreements are part of an ongoing effort to attract international investment, boost resource development, and enhance the sustainability of Abu Dhabi’s energy sector.
Since its establishment, SCFEA has played a key role in shaping Abu Dhabi’s policies across financial, investment, and petroleum sectors, ensuring that development strategies are aligned with national goals and future-focused economic planning.
“These strategic partnerships reinforce ADNOC’s commitment to responsible resource development while delivering long-term value to the UAE,” the council said in a statement.
