Inpex, ADNOC ink deal to extend field development venture

Inpex Corp., Tokyo, reported an agreement in principle with Abu Dhabi National Oil Co. to extend the duration of joint development of Satah and Umm Al Dalkh oil fields offshore Abu Dhabi.

The companies “will discuss new detailed terms” for extension through 2042 from the current expiration date of Mar. 8, 2018.

Inpex said Satah produces about 20,000 b/d and Umm Al Dalkh, 15,000 b/d (OGJ Online, Oct. 10, 2016).

Inpex, which holds 40% in Satah and 12% in Umm Al Dalkh, said it will be granted an additional 28% interest in Umm Al Dalkh.

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