São Paulo – The Abu Dhabi National Oil Company (ADNOC) is offering its first ever competitive bidding for oil and gas concessions. According to ADNOC, this is the first initiative of its type in the Abu Dhabi emirate.
Six blocks will be offered. The winning bidders will sign exploration rights agreements and, if the defined targets in this phase were to be reached, they will be able to work together with ADNOC in new discoveries, following the bidding rules.
Among the six blocks offered, two are offshore and four are onshore. Each block ranges from 2,500 to 6,300 square kilometers, totaling an area of 30,000 square meters.
Starting on April 23, ADNOC will host roadshows in Abu Dhabi and other place yet to be announced, and those interested in the bidding should register (link below) to attend these meetings. Registration is subject to a pre-approval process.
Registration is due on October 28, 2018, and the company plans to announce the winners of the bidding round this year.
Information on the bidding round and registrations: www.adnoc.ae/Block-Bid
Translated by Sérgio Kakitani
