EOG Resources Secures UAE Shale Exploration License

MT Newswires Live

05/16

EOG Resources (EOG) said Friday it has been granted full rights to explore and develop an onshore shale block in Abu Dhabi's Al Dhafra region.

The Unconventional Onshore Block 3 spans nearly 900,000 acres and lies in an oil-prone, over-pressured basin, the company said.

EOG said it will lead exploration and appraisal efforts in coordination with Abu Dhabi National Oil Company, with initial drilling targeted for H2.

After a three-year appraisal period, EOG may advance to production, with ADNOC holding an option to join the project.

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