EOG Resources Inc., Houston, has been awarded a new oil exploration concession for Unconventional Onshore Block 3 (UCO3) by Abu Dhabi's Supreme Council for Financial and Economic Affairs (SCFEA).
The UCO3 concession area is 3,609 sq km, or nearly 900,000 acres, in an over-pressured, oil prone basin within the Al Dhafra region of Abu Dhabi. EOG holds 100% equity and operatorship and, in coordination with Abu Dhabi National Oil Company (ADNOC), will explore and appraise unconventional oil in the concession area.
Following a 3-year appraisal phase, EOG may enter a production concession in which ADNOC has the option to participate.
EOG currently expects to begin drilling in second-half 2025 with no change to the company's 2025 capital plan.
ADNOC said the award is the first of its kind to a US company and “underlines the attractiveness of Abu Dhabi’s energy sector and its position as a trusted investment destination.”
The agreement was one of a number of business opportunities noted during the United Arab Emirates (UAE)-US business dialogue with US President Donald Trump earlier this week (OGJ Online, May 16, 2025).
