PETRONAS signed agreement with ADNOC for unconventional oil concession

PETRONAS signed agreement with ADNOC for unconventional oil concession

PETRONAS Abu Dhabi Sdn Bhd, a wholly-owned subsidiary of PETRONAS, inked a historic agreement with Abu Dhabi National Oil Company (ADNOC) , to explore and appraise Unconventional Onshore Block 1 covering a 2,000 square km concession area in the Al Dhafra region.

The agreement was signed by PETRONAS President and Group Chief Executive Officer, Datuk Tengku Muhammad Taufik and UAE Minister of Industry and Advanced Technology and Managing Director and Group CEO of ADNOC, His Excellency Dr. Sultan Ahmed Al Jaber, and witnessed by His Majesty Seri Paduka Baginda the Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah Ibni Almarhum Sultan Haji Ahmad Shah Al-Musta’in Billah and UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan. Also present was the Minister of International Trade and Industry, YB Senator Tengku Datuk Seri Utama Zafrul bin Tengku Abdul Aziz.

Datuk Tengku Muhammad Taufik said this development is a red-letter day for the company. “I am very pleased to note that the United Arab Emirates and Malaysia’s long and fruitful bilateral ties have progressed to a partnership between PETRONAS and ADNOC. PETRONAS is honoured to have this opportunity to explore and appraise unconventional energy with a progressive and forward-looking partner such as ADNOC.

“This