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UAE: Adnoc signs up offshore partners, oil majors notably absent

Abu Dhabi National Oil Company (Adnoc) has announced the first partners for its new offshore zones being formed from the single Adma concession. The current arrangement – in which UK major BP (14.66%), France’s Total (13.34%) and Japan Oil Development Company (Jodco – 12%) all have stakes – expires on 8 March, whereupon the concession area will be split into three covering Lower Zakum, Umm Shaif with Nasr, and Sateh Al-Razboot with Umm Lulu.

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