Cosmo awarded exploration block offshore Abu Dhabi

The Abu Dhabi National Oil Company (ADNOC) has awarded the exploration rights for Abu Dhabi’s offshore block 4 to Cosmo E&P Albahriya, a wholly-owned subsidiary of Japan’s Cosmo Energy Holdings. Cosmo plans to invest up to $145mn during the exploration phase.

The announcement follows recent awards to Occidental as well as a consortium led by Italy’s Eni and Thailand’s PTTEP.