ADOC Commencement of New Concession Agreement

Abu Dhabi Oil Co., Ltd. (Japan), (ADOC), is pleased to announce the New Concession Agreement with the Supreme Petroleum Council of Abu Dhabi, (SPC), has came into effect on 6th December, 2012.

ADOC has acquired an additional concession area, namely Hail Field, which includes undeveloped reservoirs, in addition to three existing oil fields, namely Mubarraz Field, Umm Al Anbar Field and Neewat Al Ghalan Field. ADOC aims to commence early production in Hail Field and continue safe and stable operation for a further 30 years with the existing three oil fields. The New Concession Agreement symbolizes the excellent bilateral relations between the UAE and Japan in addition to ADOC's experience of more than 40 years in Abu Dhabi with advanced technology for environmental protection and efficient production.

The celebratory reception for ADOC's 45th anniversary and commencement of the New Concession Agreement was held in Abu Dhabi on 10th December 2012, in the attendance of H.E. Abdullah Nasser Al Suwaidi, Director General, Abu Dhabi National Oil Company and H.E. Abdullah Al Masaood, Chairman of National Consultative Council.