In February 2017, CNPC was awarded an 8% interest in Abu Dhabi’s onshore concession, operated by ADNOC Onshore. It also has a 40% stake in the Al Yasat concession with ADNOC.
The Umm Shaif and Nasr concession, and the Lower Zakum concession have been created from the former ADMA offshore concession, “with the aim of maximizing commercial value, broadening the partner base, expanding technical expertise, and enabling greater market access,” ADNOC said.
Umm Shaif field’s Arab reservoir is characterized by a huge gas cap—one of the largest in the region—with condensates-rich reserves. The gas cap overlays an oil rim which, in combination with Nasr field, has a crude production capacity of 460,000 b/d. ADNOC plans to process 500 MMscfd of gas from Umm Shaif’s gas cap to help meet Abu Dhabi’s increasing domestic energy demand. The condensates, from the gas cap, will be refined to extract higher-value products that can be used in a variety of petrochemical applications.
CNPC joins Eni SPA, 10%, and Total, 20%, as participants in the Umm Shaif and Nasr concession; and an ONGC Videsh-led consortium, 10%, Inpex Corp., 10%, Eni, 5%, and Total, 5%, as participants in the Lower Zakum concession. ADNOC retains 60% majority shares in both concessions.