ADNOC Onshore – a long term partnership endorsed
On January 29, 2015, The Abu Dhabi National Oil Company (ADNOC) and TotalEnergies signed the new 40-year Abu Dhabi Company for Onshore Petroleum Operations Limited (ADCO) Concession Agreement for the ADNOC Onshore oil fields in the Emirate of Abu Dhabi.
ADNOC said that by this agreement, TotalEnergies, which receives a 10% participating interest in the new concession, is appointed Asset Leader for the South East and Bu Hasa integrated Asset Groups, effectively from January 1, 2015.
Additionally in May, ADNOC Onshore added two more new partners, Inpex/Japan: 5% and GS Energy/Korea: 3%.
ADNOC Onshore will continue to operate the integrated asset groups of Bab, Bu Hasa, South East (Sahil, Asab, Shah, Qusahwira, Mender) and Northeast Bab (Al Dabb’iya, Rumaitha, Shanayel).
TotalEnergies as a prime shareholder of ADNOC Onshore acts to explore, develop and produce hydrocarbons within its area of operations. With this objective of ADNOC Onshore’s aspirations, efforts will be made to operate at maximum efficiency and optimum cost with minimum impact on the environment and always with safety as a first priority.
Within ADNOC Onshore, we will promote an environment of continuous improvement while maintaining the highest standards of honesty and integrity in all aspects of our business. TotalEnergies will also support ADNOC Onshore to achieve the 75% UAE National employment objective in 2017.
Combining Efforts towards the Success of UAE's Vision
TotalEnergies’s presence in the new ADNOC Onshore is intended to develop ADNOC Onshore as the primary contributor to Abu Dhabi’s sustainable future. As a first step towards all these developments, TotalEnergies is setting up a Technology sharing options in coordination with ADNOC Onshore, whereby ADNOC Onshore technical staff will be allowed access through digital platforms to TotalEnergies’s database worldwide.
This two way technology path will form a knowledge sharing gateway for its staff to learn new technologies in the field. In addition, through effective human capabilities development, TotalEnergies is committed to help make ADNOC Onshore better positioned to progress along with UAE's Vision 2030.