EOG Resources Awarded Onshore Concession to Explore and Appraise Unconventional Shale Block in the UAE
EOG Resources (EOG) has secured a significant exploration concession for Unconventional Onshore Block 3 (UCO3) from Abu Dhabi's Supreme Council for Financial and Economic Affairs. The concession covers 3,609 square kilometers (approximately 900,000 acres) in the Al Dhafra region's over-pressured, oil-prone basin.
EOG holds 100% equity and operatorship and will collaborate with Abu Dhabi National Oil Company (ADNOC) to explore and appraise unconventional oil resources. The agreement includes a three-year appraisal phase, after which EOG may enter a production concession where ADNOC has participation options. Drilling operations are expected to commence in H2 2025 without affecting EOG's 2025 capital plan.
EOG Resources (EOG) ha ottenuto una significativa concessione esplorativa per il Blocco Onshore Non Convenzionale 3 (UCO3) dal Consiglio Supremo per gli Affari Finanziari ed Economici di Abu Dhabi. La concessione copre 3.609 chilometri quadrati (circa 900.000 acri) nella regione di Al Dhafra, in un bacino sovrappressurizzato e ricco di petrolio.
EOG detiene il 100% della propriet脿 e dell鈥檕perativit脿 e collaborer脿 con la Abu Dhabi National Oil Company (ADNOC) per esplorare e valutare le risorse petrolifere non convenzionali. L鈥檃ccordo prevede una fase di valutazione di tre anni, al termine della quale EOG potr脿 accedere a una concessione di produzione con opzioni di partecipazione per ADNOC. Le operazioni di perforazione inizieranno presumibilmente nella seconda met脿 del 2025 senza influire sul piano di investimenti di EOG per il 2025.
EOG Resources (EOG) ha asegurado una importante concesi贸n exploratoria para el Bloque Terrestre No Convencional 3 (UCO3) del Consejo Supremo de Asuntos Financieros y Econ贸micos de Abu Dhabi. La concesi贸n abarca 3,609 kil贸metros cuadrados (aproximadamente 900,000 acres) en la regi贸n de Al Dhafra, en una cuenca sobrepresionada y con potencial petrolero.
EOG posee el 100% de la participaci贸n y la operaci贸n y colaborar谩 con la Compa帽铆a Nacional de Petr贸leo de Abu Dhabi (ADNOC) para explorar y evaluar recursos petrol铆feros no convencionales. El acuerdo incluye una fase de evaluaci贸n de tres a帽os, tras la cual EOG podr谩 entrar en una concesi贸n de producci贸n donde ADNOC tendr谩 opciones de participaci贸n. Se espera que las operaciones de perforaci贸n comiencen en la segunda mitad de 2025 sin afectar el plan de capital de EOG para 2025.
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EOG Resources (EOG) a obtenu une concession d'exploration importante pour le Bloc Onshore Non Conventionnel 3 (UCO3) aupr猫s du Conseil Supr锚me des Affaires Financi猫res et 脡conomiques d'Abu Dhabi. La concession couvre 3 609 kilom猫tres carr茅s (environ 900 000 acres) dans le bassin surpressuris茅 et riche en p茅trole de la r茅gion d'Al Dhafra.
EOG d茅tient 100 % des parts et de l'exploitation et collaborera avec la Abu Dhabi National Oil Company (ADNOC) pour explorer et 茅valuer les ressources p茅troli猫res non conventionnelles. L'accord pr茅voit une phase d'茅valuation de trois ans, apr猫s laquelle EOG pourra entrer dans une concession de production o霉 ADNOC disposera d'options de participation. Les op茅rations de forage devraient commencer au second semestre 2025 sans impacter le plan d'investissement 2025 d'EOG.
EOG Resources (EOG) hat eine bedeutende Explorationskonzession f眉r den Unkonventionellen Onshore Block 3 (UCO3) vom Obersten Rat f眉r Finanz- und Wirtschaftsangelegenheiten Abu Dhabis erhalten. Die Konzession umfasst 3.609 Quadratkilometer (etwa 900.000 Acres) in der 眉berdruckbehafteten, 枚lreichen Beckenregion Al Dhafra.
EOG h盲lt 100% Eigenkapital und Betreiberrolle und wird mit der Abu Dhabi National Oil Company (ADNOC) zusammenarbeiten, um unkonventionelle 脰lressourcen zu erkunden und zu bewerten. Die Vereinbarung beinhaltet eine drei Jahre lange Bewertungsphase, nach der EOG eine Produktionskonzession erhalten kann, bei der ADNOC Beteiligungsoptionen hat. Bohrarbeiten sollen in der zweiten H盲lfte 2025 beginnen, ohne den Kapitalplan von EOG f眉r 2025 zu beeintr盲chtigen.
- None.
- Three-year appraisal phase required before production rights
- ADNOC has option to participate in production phase, potentially reducing EOG's stake
- Success of unconventional oil exploration not guaranteed
The UCO3 concession area is 3,609 square kilometers, or nearly 900,000 acres, in an over-pressured, oil prone basin within the Al Dhafra region of
"We are excited for the opportunity to evaluate this hydrocarbon rich basin for potential horizontal development," said Ezra Y. Yacob, Chairman and Chief Executive Officer of EOG. "We听look forward to working alongside ADNOC to expand
About EOG
EOG Resources, Inc. (NYSE: EOG) is one of the largest crude oil and natural gas exploration and production companies in
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FAQ
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