ADNOC launches first licence auction

Abu Dhabi National Oil Co. launched its first auction of oil and gas exploration licences on Tuesday.
By Staff reporter 11 April 2018 0 30368

Abu Dhabi National Oil Co. launched its first auction of oil and gas exploration licences on Tuesday.

Abu Dhabi’s state energy company is offering four onshore blocks and two offshore blocks spanning a total area of 3 million hectares, which are estimated to hold significant reserves of oil and gas.

Bids will be accepted until October.

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