ADNOC announced the expansion of its strategic partnership with the Malaysian national oil and gas company Petronas, after reaching an agreement under which Petronas obtained the rights to explore and evaluate unconventional resources in Onshore Area No. 5 in Abu Dhabi.
This agreement comes after the first concession was awarded to Petronas in December 2022 to explore Onshore Area No. 1.
As part of the agreement, the expansion of the strategic partnership between ADNOC and Petronas will contribute to providing new foreign direct investment to the country, confirming its position as a reliable destination for global investments.
According to the agreement, Petronas will contribute financially to the huge 3D geophysical survey project implemented by ADNOC, which contributed to providing accurate data on the concession area.
