We are ADNOC’s leading upstream company charged with driving marginal field development in both offshore and onshore concession areas. Established in 2014, we are the first joint venture between ADNOC (60%) and China National Petroleum Corporation (CNPC - 40%). The partnership cements the UAE’s strategic energy partnership with China and highlights our continued success in developing marginal fields.
Our activities span the hydrocarbon value chain from exploration to oil production of onshore and offshore concession areas, thus contributing to ADNOC’s 2030 strategy by creating a more profitable upstream and supporting the growth of the UAE’s economy.
Historically, the concession areas are economically marginal as they have a challenging geographical and geological terrain, which increases development costs. By taking an entrepreneurial approach and drawing on the expertise of established ADNOC upstream operating companies, we are using a cost-effective operating model to develop these concession areas and enable their profitable development.
We have also taken the lead in establishing the first Marginal Field Center Of Excellence (MFCOE). The MFCOE will enable knowledge-sharing among ADNOC Group of companies and with international companies, so that we can focus on maximizing the value from more challenging oil fields.