ADNOC announces a new gas discovery in Abu Dhabi

A few days ago, the Abu Dhabi National Oil Company (ADNOC) announced the second discovery of natural gas resources in the first exploration well within the offshore block 2 concessions in Abu Dhabi, which is operated by the Italian company Eni, where the size of the discovery of the new reservoir is estimated at 1-1.5 trillion standard cubic feet of Natural gas.
This major discovery comes after the initial discovery in the shallower reservoirs, which was announced in February 2022, which brings the total reserves of both discoveries to about 2.5-3.5 trillion standard cubic feet of gas.
This concession was awarded in 2019 to a consortium led by Italian energy company Eni and including Thai state-owned BTT Exploration and Production, as part of ADNOC’s first competitive bidding round.
The latest discovery is to be added to what “ADNOC” announced in May 2022 about the discovery of 100 million barrels of oil in concession number 3 in Abu Dhabi, which is managed by Occidental, and also announced in December 2021 that the discovery of up to 1 billion barrels of oil equivalent in the Onshore Block 4 concession, operated by INPEX/JODCO.
ADNOC launched the first and second round of Abu Dhabi’s competitive auctions in 2018 and 2019, where it offered on behalf of the Abu Dhabi government a group of major land and marine areas, and the offered areas contain large resources estimated at several billion barrels of oil and trillions of cubic feet of natural gas.