INPEX CORPORATION (“INPEX”) announced it has discovered multiple conventional oil, condensate and gas columns as a result of drilling an exploration well from May until August 2021 at Onshore Block 4 in Abu Dhabi in the United Arab Emirates (UAE) through its subsidiary JODCO Exploration Limited (JEL).
This marks the first oil discovery of mainly Murban grade from this concession area as well as from a new geological formation. The provisional oil, condensate and gas in place combined discoveries totals up to 1 billion barrels of oil equivalent.
Onshore Block 4 is located in a coastal area in the central part of the Emirate of Abu Dhabi that includes Abu Dhabi City, and covers a surface area of approximately 6,116 square kilometres.
Since taking part in the first ever competitive bid round for new licensing opportunities for the exploration, development and production of oil and gas launched by the Abu Dhabi National Oil Company (ADNOC) in 2018 and thereafter being exclusively awarded Onshore Block 4 as an operator, JEL has conducted drilling operations based on the evaluation of 3D seismic exploration data.
The block lies in the vicinity of existing oil and natural gas production infrastructure, raising expectations for the early-stage development and production of crude oil and natural gas.
JEL will henceforth conduct the analysis of data extracted from crude oil and natural gas production tests, undertake further exploration activities and pursue the potential of commercially developing Onshore Block 4 in close collaboration with ADNOC.
Based on expectations for early-stage development and production, these resources are expected to contribute to building a more resilient INPEX upstream business as outlined in INPEX’s business development strategy.