Petroliam Nasional Berhad (Petronas), Malaysia’s national oil and gas company, has been awarded a new oil and gas exploration concession in Abu Dhabi’s Al Dhafra region. The agreement grants Petronas 100% exploration rights for Onshore Block 2, covering an area of 7,320 square kilometers.
This marks the third exploration concession awarded to Petronas in Abu Dhabi, underscoring the Emirate’s reputation as a trusted and attractive destination for global energy sector investments, supported by its advanced infrastructure.
The exploration activities in Onshore Block 2 will leverage advanced technology and artificial intelligence (AI) to maximize the potential of Abu Dhabi’s energy resources.
Successful Bid Round Completion
The concession was granted by the Supreme Council for Financial and Economic Affairs (SCFEA) following the successful completion of Abu Dhabi’s first and second exploration bid rounds, initiated in 2018 and 2019. These rounds resulted in the award of 11 blocks to leading international partners.
This latest award aligns with Abu Dhabi’s policies on financial, investment, economic, petroleum, and natural resources management, overseen by SCFEA. The Council is responsible for ensuring strict performance monitoring and precise policy implementation.
SCFEA continues to collaborate with strategic investment entities to fulfill Abu Dhabi’s vision for a sustainable and prosperous future for generations to come.