Abu Dhabi's ADNOC attracts billions from foreign investors

News Service
13:4915/01/2020, Wednesday
U: 15/01/2020, Wednesday
REUTERS
General view of Panorama Digital Command Centre at the ADNOC headquarters in Abu Dhabi, UAE December 10, 2019. Picture taken December 10, 2019. REUTERS/Satish Kumar
General view of Panorama Digital Command Centre at the ADNOC headquarters in Abu Dhabi, UAE December 10, 2019. Picture taken December 10, 2019. REUTERS/Satish Kumar


CONCESSIONS:

ADNOC signed a series of 40-year agreements with international energy companies for concessions.

* France's Total was awarded a 20% stake in the Umm Shaif and Nasr concession and a 5% interest in the Lower Zakum concession. Total paid participation fees totalling of 5.3 billion dirhams ($1.44 billion)

* PetroChina was granted 10% stakes in the two offshore concessions. It paid participation fees of 4.3 billion dirham ($1.17 billion) in total.

* Eni won a 10% stake in Umm Shaif and Nasr and a 5% stake in Lower Zakum. Participation fees: 3.2 billion dirhams ($871.27 million).

* Spain's Cepsa was awarded a 20% stake in the SARB and Umm Lulu offshore concession. Cepsa's participation fee was 5.5 billion dirhams ($1.5 billion).

* A consortium led by India's Oil and Natural Gas Corp took a 10% stake in Lower Zakum. Participation fee: 2.2 billion dirhams ($600 million).

* OMV won a 20% stake in the SARB and Umm Lulu concession. Participation fee: 5.5 billion dirhams ($1.5 billion).

* Japan's INPEX was awarded a 10% stake in Lower Zakum, paying a 2.2 billion dirham ($600 million) participation fee. It also paid 920 million dirhams ($250 million) to extend its interests in the Satah and Umm Al Dalkh concession.

($1 = 3.6728 UAE dirham)

#ADNOC
#Abu Dhabi