Total and ADNOC Join Forces to Launch Unconventional Gas Exploration in Abu Dhabi
12 Noviembre 2018 - 1:48AM
Business Wire
Regulatory News:
Total (Paris:FP) (LSE:TTA) (NYSE:TOT) and Abu Dhabi National Oil
Company (ADNOC) have signed a concession agreement to launch an
unconventional gas exploration program in the high potential Diyab
play that spreads over 6 000 km2 to the west of the prolific ADNOC
Onshore concession, in Abu Dhabi.
The concession allows for two exploration and appraisal phases
for a period of up to 7 years, followed by a 40 year development
and production period. Total will operate the exploration phase of
this new concession with a 40% interest, while ADNOC will hold the
remaining 60% interest. In case of positive exploration, this
multi-Tcf opportunity will be developed in stages in line with the
growing gas demand in the UAE and potential export
opportunities.
This agreement is a result of close cooperation between ADNOC
and Total towards identifying ways of unlocking the unconventional
gas potential in Abu Dhabi, Total bringing its expertise, personnel
and technical know-how.
“We are pleased to be the first international company to pioneer
unconventional gas exploration in Abu Dhabi alongside ADNOC. This
agreement consolidates our longstanding and strategic relationship
in a country and region that we know well. We are committed to
supporting the UAE in meeting its ambitions to unlock this
significant unconventional gas resource,” said Patrick Pouyanné,
Chairman and CEO of Total. “The Diyab play has the potential to be
a high impact play ranking alongside the most prolific North
American shale gas plays, and is an excellent addition to our
exploration portfolio.”
Total in the United Arab Emirates
Total has been present in the United Arab Emirates for almost 80
years and has built a strong presence, reflected by the size and
diversity of its assets and partnerships. In 2017, the Group’s
equity production in Abu Dhabi was 290,000 boe/d.
In partnership with ADNOC, Total holds:
- 20% in the Umm Shaif & Nasr and 5%
in the Lower Zakum 40-year concessions (former ADMA)
- 10% in the 40-year ADNOC Onshore
concession (former ADCO)
- 15% in ADNOC Gas Processing (former
GASCO)
- 5% in ADNOC LNG (former ADGAS)
- 24.5% in Dolphin Energy Ltd
In addition, Total owns 100% stake and operates the Abu Al
Bukoosh field.
In the power production sector, Total is also a partner in the
Shams project, the world's largest concentrated solar power plant
in operation (100 MW), inaugurated in 2013, and since 2001 in the
Taweelah water desalination and power plant, which produces around
20% of Abu Dhabi’s water and power consumption.
The Group also has a leading position in the manufacturing and
marketing of a wide range of automotive and industrial lubricants
with a blending plant in the UAE, supplying the whole region.
About Total
Total is a global integrated energy producer and provider, a
leading international oil and gas company, a major player in
low-carbon energies. Our 98,000 employees are committed to better
energy that is safer, cleaner, more efficient, more innovative and
accessible to as many people as possible. As a responsible
corporate citizen, we focus on ensuring that our operations in more
than 130 countries worldwide consistently deliver economic, social
and environmental benefits.
* * * * *
Cautionary noteThis press release, from which no legal
consequences may be drawn, is for information purposes only. The
entities in which TOTAL S.A. directly or indirectly owns
investments are separate legal entities. TOTAL S.A. has no
liability for their acts or omissions. In this document, the terms
“Total” and “Total Group” are sometimes used for convenience where
general references are made to TOTAL S.A. and/or its subsidiaries.
Likewise, the words “we”, “us” and “our” may also be used to refer
to subsidiaries in general or to those who work for them.This
document may contain forward-looking information and statements
that are based on a number of economic data and assumptions made in
a given economic, competitive and regulatory environment. They may
prove to be inaccurate in the future and are subject to a number of
risk factors. Neither TOTAL S.A. nor any of its subsidiaries
assumes any obligation to update publicly any forward-looking
information or statement, objectives or trends contained in this
document whether as a result of new information, future events or
otherwise.
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