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).