KUALA LUMPUR (Sept 27): Petroliam Nasional Bhd's (Petronas) wholly-owned unit, Petronas Abu Dhabi Sdn Bhd, has been granted a new oil and gas exploration concession in Onshore Block 2 by the Supreme Council for Financial and Economic Affairs (SCFEA).

Under the agreement, Petronas Abu Dhabi will hold 100% equity and assume operatorship during the exploration period.

"The Onshore Block 2, located within the Al Dhafra region of Abu Dhabi covers an area of over 7,300 square km,” the state-owned oil and gas (O&G) company said in a statement on Friday.

“It is Petronas Abu Dhabi’s third concession, following the Unconventional Block 5 in 2024 and the Unconventional Block 1 in 2022,” it said.

Petronas executive vice-president and upstream business chief executive officer Mohd Jukris Abdul Wahab said the SCFE collaboration broadens the company's Abu Dhabi upstream portfolio.

"It incorporates both unconventional and conventional resources, offering potential for exploration growth," he said.

Petronas said as a national oil company with a global presence, it remains committed to balancing domestic obligations while seizing international opportunities, maintaining a robust business portfolio amidst the evolving energy landscape.

Aligned with Petronas' net-zero targets, Petronas Abu Dhabi remains committed to exploring a sustainable approach for its operations, the statement said.

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