Strategic partnership in Energy between the UAE and Pakistan


 The Abu Dhabi National Oil Company (ADNOC) announced the signing of a historic concession agreement with a consortium of four Pakistani companies. This agreement marks the first time that Pakistani companies have invested in oil and gas exploration concessions in Abu Dhabi.

This agreement is a new stage of cooperation in the energy sector between the UAE and Pakistan, which have enjoyed close relations spanning fifty years in various sectors. 

In addition, this agreement will achieve mutual benefits such as supporting energy security and contributing to strengthening the strategic and economic partnership relations between the two countries.

According to the agreement, Pakistani companies will get a 100% stake in the exploration phase, and will invest up to 1.12 billion dirhams ($304.7 million), including participation fees, in exploration, drilling exploration and evaluation wells to explore and evaluate oil and gas opportunities in the "offshore area." No. 5”, which covers an area of ​​6,223 square kilometers and is located 100 km northeast of Abu Dhabi.

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