Abu Dhabi has awarded three new Production Concession Agreements (PCAs) for hydrocarbon exploration and production across onshore and offshore blocks, signaling a major boost for energy collaboration in the region.
These agreements are all in partnership with the Abu Dhabi National Oil Company (Adnoc), the UAE’s state-owned energy giant.
Offshore Block 2: Eni & PTTEP Join Forces with Adnoc
- Location: West of the Ghasha field, offshore Abu Dhabi
- Consortium Breakdown:
- Adnoc: 60%
- Eni (Italy): 28%
- PTTEP (Thailand): 12%
This block is expected to hold significant untapped resources. The partnership extends the global reach of both Eni and PTTEP while aligning with Adnoc’s strategic upstream goals.
Pakistan Offshore Block 5: Pakistan Makes a Strategic Entry
- Awarded to: Pakistan International Oil Limited (PIOL)
- PIOL Composition:
- Oil & Gas Development Company
- Pakistan Petroleum
- Mari Energies
- Government Holdings (Private) Ltd
(Each holds 25% in PIOL)
- Final PCA Split:
- Adnoc: 60%
- PIOL: 40%
This marks Pakistan’s first major upstream investment in the UAE, potentially strengthening bilateral energy cooperation between both nations.
These awards are part of Adnoc’s ongoing drive to unlock new hydrocarbon reserves and attract foreign investment through competitive bidding rounds. They also support Abu Dhabi’s broader goal of expanding oil and gas production capacity while balancing sustainability initiatives.
What This Means:
- Increased international participation in UAE energy projects
- Expanded exploration and production capacity for Adnoc
- Strengthening of global energy partnerships with Europe and Asia
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