Japanese Company Acquires Oil Concession on Offshore Oilfields in Abu Dhabi
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Japanese Company Acquires Oil Concession on Offshore Oilfields in Abu Dhabi

On February 25 (Sun.), 2018, in Abu Dhabi, INPEX Corporation signed an agreement with the government of Abu Dhabi and the Abu Dhabi National Oil Company (ADNOC) in the United Arab Emirates (UAE) and was awarded a 10% participating interest in the Lower Zakum concession on offshore oilfields in Abu Dhabi for the coming 40 years.

INPEX’s acquisition of the oil concession on offshore oilfields in Abu Dhabi

On February 25 (Sun.), 2018, in Abu Dhabi, INPEX Corporation signed an agreement with the government of Abu Dhabi and ADNOC, UAE, and was awarded a 10% participating interest in the Lower Zakum concession on offshore oilfields in Abu Dhabi for the coming 40 years.

The offshore oil fields in Abu Dhabi, including the Lower Zakum Oil Field, are some of the largest oilfields in the world boasting bountiful reserves. INPEX Corporation has participated in the development of this offshore oilfield for 46 years since 1972 through its 100%-owned subsidiary, Japan Oil Development Co., Ltd. At this time, it was decided that INPEX Corporation would continue its participation in the development of the Lower Zakum Oil Field.

Release date

February 26, 2018

Division in Charge

Petroleum and Natural Gas Division, Natural Resources and Fuel Department, Agency for Natural Resources and Energy

Ministry of Economy, Trade and Industry1-3-1 Kasumigaseki, Chiyoda-ku, Tokyo 100-8901, Japan Tel: +81-(0)3-3501-1511
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