Daily Business Wrap - Japan's Inpex to invest Dh646 million in Abu Dhabi oil block

The Abu Dhabi National Oil Company (Adnoc) on Sunday said it had signed an agreement awarding the exploration rights for Abu Dhabi Onshore Block 4 to Japan’s Inpex Corporation, which will invest up to Dh646 million ($176 million), including a participation fee, to explore for and appraise oil and gas opportunities. The block covers an onshore area of 6,116 square kilometres from Abu Dhabi to the boundary with Dubai.