"Abu Dhabi is one of the Arab world’s leading energy hubs, with more than 100 billion barrels of proven crude oil reserves and three per cent of current global production.
Even through successive rulers of Abu Dhabi granted onshore and offshore concessions to various international oil consortia as far back as 1939, the establishment of Adnoc in 1971, the year the UAE Federation was also born, inaugurated the modern oil and gas development era in the emirate.
Total, BP, Shell and Exxon Mobil were the global oil super majors who partnered with Adnoc local offshore operating companies ADMA and OPCO in the upstream development of Abu Dhabi’s coastal oilfields. Later, Japan Oil Development Company (JODCO) was awarded a concession in the Upper Zakum oilfield. In the 1970s, Adnoc established subsidiaries for the development of major gas projects with global super majors, primarily to liquefy offshore gas and export it as LNG."
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