The French oil group Total today announced an agreement with the state-owned Abu Dhabi National Oil Company (ANDOC) for an unconventional gas prospecting program in a Diyab area of more than 6,000 square kilometers in the United Arab Emirates (UAE).
The agreement for this "with strong potential" area, located west of the ADNOC concession on land, contemplates two phases of exploration and appreciation over seven years, followed by a third phase of development and exploitation of 40 years, Total said in a statement.
The French company, which has a 40% stake (ANDOC controls the remaining 60%), will act as operator during the exploration of this new concession, in which potentially several billion cubic feet of gas are expected.
If it is found, its development would be in relation to the growing demand in the UAE itself and the opportunities to export it, he said.
The CEO of Total, Patrick Pouyanné, congratulated that his is the first international company involved in the exploration of unconventional gas in Abu Dhabi associated with ADNOC.
"The Diyab area has the potential to be compared to the most prolific unconventional formations in North America and is an excellent complement to our exploration portfolio," said Pouyanné.
Total has been active for almost 80 years in the Emirates, where its production last year was equivalent to 290,000 barrels of oil per day.