EOG Resources, Inc. awarded new onshore oil exploration concession in UAE

From Yahoo Finance: 2025-05-18 19:20:00

EOG Resources, Inc. (EOG) has secured a new onshore oil exploration concession in the UAE, with plans to evaluate 900,000 acres in Abu Dhabi’s Al Dhafra region. The company will coordinate with the Abu Dhabi National Oil Company and may enter a production agreement if commercial hydrocarbons are found.

During President Trump’s visit to the UAE, EOG announced the new concession, part of multiple strategic agreements potentially enabling $60 billion of American investments in UAE energy projects.

EOG Resources, Inc.’s Chairman and CEO, Ezra Y. Yacob, expressed excitement about evaluating the hydrocarbon-rich basin in Abu Dhabi and working with ADNOC to expand the region’s resource potential.

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Read more: EOG Resources, Inc. (EOG) Awarded Oil Exploration Concession for UAE Shale Block