UAE's ADNOC plans new oil and gas licensing round

State-owned Abu Dhabi National Oil Company (ADNOC) is planning to launch a second licensing round for oil and gas blocks, a senior company executive said on Wednesday.

“We will continue to appraise our unconventional base in Abu Dhabi, and there’s potential to go beyond the ones we announced last year,” Abdulmunim Al Kindy, upstream director, ADNOC said while addressing an energy conference in Abu Dhabi.

The oil major announced the discovery of up to 15 trillion cubic feet of gas, an addition of 7.1 per cent to existing reserves along with awarding stakes in its unconventional gas fields to international companies last year.