ABU DHABI- Japanese energy companies are in advanced talks with state-run Abu Dhabi National Oil Company (ADNOC) for a stake in the ADMA-OPCO offshore oil concession that is due to expire next year, a Japanese official said on Monday.
ADNOC was "seriously" considering the offers from the Japanese companies, because of the long-term relationship between Tokyo and Abu Dhabi, Masato Sasaki, director of the oil and natural gas division at Japan's Ministry of Economy, Trade and Industry, told reporters.
Japanese firms are also eyeing midstream and downstream investment opportunities in Abu Dhabi, he said.
In August, ADNOC said that it would split its ADMA-OPCO offshore oil concession into two or more areas with new terms to unlock greater value and increase opportunities for partnerships.
Existing shareholders in ADMA-OPCO are BP with 14.67 percent, Total with 13.33 percent and Japan Oil Development Co with 12 percent.
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