ADNOC Announces 650MM Barrel Oil Find
In a statement posted on its Twitter page, ADNOC has announced multiple onshore oil discoveries in place totaling 650 million barrels of oil.
In the statement, ADNOC outlined that the finds include 500 million barrels of oil in place at Abu Dhabi’s largest onshore field, Bu Hasa, around 100 million discovered barrels in Onshore Block 3, and around 50 million discovered barrels in the Al Dhafra Petroleum Concession.
We are proud to announce multiple onshore oil discoveries in place, totalling 650 million barrels of oil. pic.twitter.com/yPYII9Pn40— ADNOC Group (@AdnocGroup) May 19, 2022
In May 2021, ADNOC announced an investment of up to $318 million (AED 1.16 billion) to connect newly drilled smart wells to the main production facilities at Bu Hasa, which the company said will sustain production capacity of 650,000 barrels per day at its “largest onshore asset”. In 2018, ADNOC awarded a contract for the Bu Hasa Integrated Field Development Project to increase the production capacity of the site to 650,000 barrels per day. Bu Hasa, which is located 124 miles south of Abu Dhabi city, is one of ADNOC’s oldest oil fields.
In February 2019, ADNOC announced the signing of an agreement awarding Onshore Block 3 to Occidental Petroleum. In a company statement at the time, ADNOC stated that existing 3D seismic data already covered a large part of the block “which, combined with its proximity to the Shah, Asab, Haliba and Sahl fields, suggests the concession area has very promising potential”. Onshore Block 3 covers an area of 2,232 square miles in the Al Dhafra region.
Back in February this year, ADNOC announced the discovery of natural gas resources offshore of the Emirate of Abu Dhabi. Interim results from the first exploration well in Abu Dhabi’s Offshore Block 2 Exploration Concession, operated by Eni, indicated between 1.5 to two trillion standard cubic feet of raw gas in place, ADNOC outlined in a company statement at the time. The discovery marked the first from Abu Dhabi’s offshore exploration concessions, ADNOC highlighted.
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