Abu Dhabi National Oil Company (Adnoc) on Friday announced a second discovery of natural gas resources in the first exploration well in Abu Dhabi’s Offshore Block 2 Exploration Concession.
The discovery from a new deeper reservoir indicates between 1–1.5 trillion standard cubic feet (TSCF) of raw gas in place. The facility is operated by Eni.
This significant find builds on the initial finding in February 2022 from a shallower target, taking the total amount of gas in place from this single well to 2.5-3.5 TSCF.
A consortium, led by Eni and PTT Exploration and Production Public Company Limited (PTTEP), was awarded the exploration rights for Offshore Block 2 in 2019 as part of Adnoc’s debut competitive block bid round.
Yaser Saeed Almazrouei, Adnoc Upstream Executive Director, said this discovery further highlights how Adnoc’s accelerated exploration and development program is identifying untapped hydrocarbon resources, creating long-term value for the UAE.
"We are particularly pleased to see Eni and PTTEP pursuing deeper zones, which has demonstrated additional potential resources in place. We look forward to continuing to work with all our strategic partners to sustainably identify and further unlock Abu Dhabi’s hydrocarbon resources,” Almazrouei said.
Both discoveries leveraged insights from Adnoc’s ongoing 3D mega seismic survey, underpinning the important role the survey is playing as it utilises state-of-the-art technologies to help identify new hydrocarbon resources across the Emirate of Abu Dhabi.
This latest discovery builds on previously announced exploration concession discoveries. In May 2022, Adnoc also announced the discovery of approximately 100 million barrels of oil in place in Abu Dhabi’s Onshore Block 3, operated by Occidental, while in December 2021, up to one billion barrels of oil equivalent (BBOE) in Onshore Block 4 Exploration Concession, which is operated by INPEX/JODCO was confirmed.
Adnoc launched Abu Dhabi’s first and second competitive block bid rounds in 2018 and 2019 respectively, offering a set of major onshore and offshore blocks to international companies, on behalf of the Government of Abu Dhabi.
Based on existing data from detailed petroleum system studies, seismic surveys, exploration and appraisal wells data, estimates suggest the blocks hold multiple billion barrels of oil and multiple trillion cubic feet of natural gas, Adnoc said.
Emirates’ A380 return comes as airline celebrates 20 years of serving Perth, carrying close to 6 million passengers since 2002
Saudi group said it invested SR1.37 billion in Gazprom and SR196 million in Rosneft on February 22, and SR410 million in Lukoil from February 22 to March 22
Acting governor SBP Dr Murtaza Syed inaugurates pension plan for non-resident Pakistanis and said the soft launch of the product will start from August 15
Currently, India is the world’s third largest in PPP terms, with a share of seven per cent of global GDP after China (18 per cent ) and the US (16 per cent), says deputy governor of Reserve Bank of India