Abu Dhabi launches first-ever bidding for 6 oil and gas blocks

adnoc

Adnoc will make available 6 new onshore and offshore blocks for competitive bid within Abu Dhabi. Our estimates suggest that these new blocks contain substantial amounts of hydrocarbons.

Out of the 6 new blocks, 4 are onshore and two offshore. In total, the 6 blocks comprise an area of 30,000 square kilometres. Successful bidders will gain the rights to explore for oil and gas. Partners will have the opportunity, alongside Adnoc, to develop and benefit from any discoveries throughout their lifecycle.

Minister of State and Adnoc Group CEO Dr Sultan bin Ahmad Sultan Al Jaber said the launch of new licensing blocks is an important step for Abu Dhabi to unlock new opportunities.

“For the first time in our history, on behalf of the Supreme Petroleum Council, Adnoc will make available 6 new onshore and offshore blocks for competitive bid within Abu Dhabi. Our estimates suggest that these new blocks contain substantial amounts of hydrocarbons,” Al Jaber said during a press conference at Adnoc headquarters.

It will start from Abu Dhabi on April 23. Registration is open now. The closing date for receipt of bids will be in October. The first bid round is planned to conclude this year with announcement of successful bidders.

Let the bidding war begin. 

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