Adnoc on Tuesday announced the discovery of up to one billion barrels of oil equivalent in its onshore block 4 concession.
“We are delighted to announce significant conventional oil, condensate and gas discoveries of up to 1 billion barrels of oil equivalent (BOE) from an exploration well in Abu Dhabi’s Onshore Block 4 Concession, operated by Japan’s INPEX/JODCO,” the state-owned energy company said.
The discovery comprises substantial Murban oil resources and represents the first find from this concession area as well as from a new geological formation, the company said.
“The exploration well in Onshore Block 4 was drilled after new insights from Abu Dhabi’s ongoing combined onshore and offshore 3D seismic survey, which is the world’s largest and uses state-of-the-art technology during data acquisition to accurately interpret the acquired seismic data,” the company said.
The next step is to appraise and further quantify these resources as well as to explore the promising potential in and around Onshore Block 4, it added.