Total has won a new deal to operate some of the largest onshore oil fields in the United Arab Emirates (UAE).
The French oil giant has been given a 10% share and signed a new 40-year onshore concession agreement with the Supreme Petroleum Council of Abu Dhabi and the Abu Dhabi National Oil Company (ADNOC).
The contract covers 15 onshore oil fields in Abu Dhabi and represents more than half of the Emirate’s production.
Patrick Pouyanné, Total’s CEO said the deal is a “major milestone” in the history of the Group’s 75-year partnership with Abu Dhabi.
He added: “We are committed to bringing our most advanced technological expertise to unlock the full production potential of Abu Dhabi’s onshore fields and therefore contribute to the development of additional reserves over the next 40 years.”