Inpex's involvement, through Jodco
, in the oil and gas industry in Abu Dhabi started in 1973 with its participation in the Umm Shaif and the Lower Zakum fields.
's involvement in ADMA in the 1970s and in ZADCO in the 1980s led to other E&P partnerships with ADNOC.
has a meager 12 percent stake in only five oil fields in the oil rich United Arab Emirates (UAE).
As part of the deal, Jodco
Exploration Limited, a wholly-owned subsidiary of Inpex, will hold and manage the interest in the concession on behalf of Inpex.
Lower Zakum Limited is a wholly-owned subsidiary of Japan's Inpex Corporation
The partners include global leaders and top tier corporations like: BP, Chinese National Petroleum Company (CNPC), Japan Oil Development Company (JODCO
), Japan Oil, Gas and Metals National Corporation (JOGMEC), Korea National Oil Corporation (KNOC), Kuwait Oil Company (KOC), Petronas, Schlumberger, Siemens, Total and Wintershall.
), operates the Upper Zakum field with limited technical help from TotalFinaElf.
A wholly-owned INPEX subsidiary, JODCO
Lower Zakum Limited, will hold and manage the interest in the concession on behalf of INPEX.
Japan Oil Development Co (Jodco
), which is owned by Inpex, had originally owned a 12 per cent stake in the concession.
Existing shareholders in Adma-Opco are BP (14.67 per cent), Total (13.33pc) and Jodco
ADMA-OPCO is owned 60% by ADNOC, 14.67% by BP, 13.33% by Total and 12% by JODCO
(Japan Oil Development Co.