EOG awarded UAE onshore concession for exploration, appraisal

EOG was awarded a new oil exploration concession for Unconventional Onshore Block 3 (UCO3) by Abu Dhabi’s Supreme Council for Financial and Economic Affairs (SCFEA).

The UCO3 concession area is 3,609 sq km in an over-pressured, oil-prone basin within the Al Dhafra region of Abu Dhabi. EOG holds 100% equity and operatorship and, in coordination with ADNOC, will explore and appraise unconventional oil in the concession area.

Following a three-year appraisal phase, EOG may enter into a production concession in which ADNOC has the option to participate. EOG currently expects to begin drilling in the second half of 2025.