February 26, 2018 / 6:21 AM / a year ago

Japan's Inpex wins stake in Abu Dhabi oil concession

TOKYO, Feb 26 (Reuters) -

* Japan’s Inpex Corp says it has been awarded a 10 percent interest in the Lower Zakum concession offshore Abu Dhabi in the United Arab Emirates by the Supreme Petroleum Council of the Emirate of Abu Dhabi (SPC)

* Says the agreement, which has a term of 40 years, comes into effect on March 9

* Says it has concluded a 25-year extension of the Satah and Umm Al Dalkh concession, also offshore Abu Dhabi, with the SPC and the Abu Dhabi National Oil Company (ADNOC)

* Says through the agreement, which runs from March 9, 2018 until March 8, 2043, it has been awarded an additional 28 percent participating interest in the Umm Al Dalkh oilfield, elevating its participating interest to 40 percent in both oil fields (Reporting by Osamu Tsukimori)

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