ADOC Acquires Hail Field Offshore UAE

Abu Dhabi Oil Co., Ltd. (Japan), (ADOC), a subsidiary of Cosmo Oil Co., Ltd. and an oil operating company in Abu Dhabi, United Arab Emirates, has announced that the New Concession Agreement with the Supreme Petroleum Council of Abu Dhabi ,(SPC), has come into effect as of 6th December, 2012.

ADOC has acquired additional concession area, namely Hail Field, which includes undeveloped reservoirs, added to three existing oil fields, namely Mubarraz Field, Umm Al Anbar Field and Neewat Al Ghalan Field. ADOC aims to succeed an early production in Hail Field and keep the stable and safe operation for further 30 years with the existing three oil fields.

[mappress]
December 11, 2012