Companies sign 40-year concession agreements to develop Umm Shaif's giant gas cap, Nasr and Lower Zakum; Total paid ADNOC $1.4 Billion in participation fees

 

Total has signed two new 40-year concession agreements with the Supreme Petroleum Council of the Emirate of Abu Dhabi (United Arab Emirates) and the Abu Dhabi National Oil Company (ADNOC). In the frame of these agreements, Total is granted a 20% participating interest in the new Umm Shaif & Nasr concession and 5% in the Lower Zakum concession, effective March 9th, 2018.
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