Japan's Inpex Corp. has formed an agreement with Abu Dhabi National Oil Co. (ADNOC) to extend the joint development of the Satah and Umm Al Dalkh oil fields offshore Abu Dhabi in the United Arab Emirates.
Inpex subsidiary Japan Oil Development are now set to discuss new detailed terms on which the joint development of Satah and Umm Al Dalkh oil fields will be extended, out to 31 December 2042.
In addition, Inpex will be granted an additional 28% participating interest in the Umm Al Dalkh oil field, bringing its total participating interest in the field to 40%.
The Satah and Umm Al Dalkh oil fields are offshore Abu Dhabi and operated by Zakum Development Co. (ZADCO). The fields are producing about 20,000 b/d and 15,000 b/d respectively.
Inpex holds a 40% participating interest in the Satah oil field and a 12% participating interest in the Umm Al Dalkh oil field. The current joint development agreements for the Satah and Umm Al Dalkh oil fields are scheduled to expire on 8 March 2018.