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Abu Dhabi awards oil concession to Malaysia’s Petronas

By Pramod Kumar
Petronas says it will use advanced technology and AI solutions to boost Abu Dhabi’s energy resources Abu Dhabi Media Office
Petronas says it will use advanced technology and AI solutions to boost Abu Dhabi’s energy resources

Abu Dhabi has awarded a new onshore oil and gas exploration concession to Malaysia’s state-run Petroliam Nasional Berhad (Petronas).

The concession, located in onshore block 2 in the Al Dhafra region, was granted by the Supreme Council for Financial and Economic Affairs (SCFEA), the state-run Abu Dhabi Media Office reported.

The award gives Petronas 100 percent exploration rights over an area of 7,320 sq km.

No financial details were given.

The concession is the third exploration license awarded to Petronas, following Abu Dhabi approving 11 blocks in the first and second exploration concession bid rounds in 2018 and 2019.

SCFEA, set up in December 2020, oversees petroleum and natural resources matters.

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