Abu Dhabi Awards New Oil And Gas Exploration Concession For Onshore Block 2 To PETRONAS

Petroliam Nasional Berhad (PETRONAS), the national oil and gas entity of Malaysia, has been awarded a new exploration concession by the Supreme Council for Financial and Economic Affairs (SCFEA) for Onshore Block 2 in the Al Dhafra region of Abu Dhabi. This marks the third concession of its kind granted to PETRONAS, showcasing Abu Dhabi’s allure as a prime location for global energy investments, thanks to its state-of-the-art infrastructure.

PETRONAS is set to hold the entirety of the exploration concession rights for Onshore Block 2, covering an expansive 7,320 square kilometers. The exploration efforts will harness cutting-edge technology and artificial intelligence, aiming to fully leverage Abu Dhabi's energy assets for optimal gain.

This latest concession award is a continuation of Abu Dhabi's successful exploration tenders initiated in 2018 and 2019. Those initial bid rounds led to the allocation of 11 blocks to foremost international partners within the energy sphere. It reflects the emirate's comprehensive strategy across financial, investment, economic, petroleum, and natural resource domains, supervised by SCFEA.

SCFEA plays a pivotal role in ensuring the enforcement of stringent performance evaluations and precise policy execution. It collaborates closely with Abu Dhabi's strategic investment bodies to fulfill the emirate's long-term vision, securing a prosperous and sustainable future for coming generations. This initiative underscores Abu Dhabi’s position as a reliable and appealing investment destination in the global energy sector.