ABU DHABI, 11th December, 2018 -The President of Abu Dhabi Oil Company, ADOC, has said that the company will continue to play its role in strengthening existing amicable bilateral relations between the UAE and Japan.
Yasushi Ohe made this statement at a reception yesterday at the St. Regis Hotel in Abu Dhabi, marking the 50th anniversary of the company, in the presence of several senior officials in the petroleum industry.
Yasushi Ohe said, “The history goes back to 17th January 1968 when ADOC was established by three Japanese refining companies who were honourably and directly granted the Mubarraz concession by the late Sheikh Zayed bin Sultan Al Nahyan.”
“In appreciation of ADOC’s strenuous efforts and technical achievements, on 3rd February 2011, the Supreme Petroleum Council, SPC, and ADOC representatives signed a new concession agreement comprising the three existing oil fields Mubarraz, Umm Al Anbar, Neewat Al-Ghalan and an additional structure in Hail Field which is adjacent to Mubarraz Island. The new Concession Agreement is valid for 30 years from 6th December 2012,” he explained.
Since then, ADOC has undertaken the development of Hail Oil Field under ADNOC’s supervision and full support and the first oil production was realised on 7th November 2017.
“The management of ADOC is determined to reciprocate such kindness by strengthening the foundation of ADOC and accomplishing excellent achievements to ensure its survival in Abu Dhabi for as long as possible. In addition, another invaluable asset for ADOC is the existing good relations between both countries cultivated over the years which ADOC has been promoting through cultural, educational and academic interchange, and will continue to do in order to strengthen further the existing amicable bilateral relations,” Yasushi Ohe added.