Abu Dhabi Company for Onshore Oil Operations (ADCO)
United Arab Emirates
The Abu Dhabi Company for Onshore Oil Operations (ADCO) operates onshore and in shallow coastal water of the Emirate of Abu Dhabi, one of the seven members of the United Arab Emirates which was established on 2nd December 1971. The original concession agreement was made with Petroleum Development (Trucial Coast) Ltd. On 11th January 1939, but geological work did not begin until after the Second World War. Exploratory drilling began in Abu Dhabi in February 1950. The First commercial oil discovery was made at Bab in 1960, and exports began from the Jebel Dhanna terminal on 14th December 1963. In 1962, the Company was renamed the Abu Dhabi Petroleum Company, ADPC. On 1st January 1973, the Government of Abu Dhabi acquired a 25% interest, which was increased to 60% as from 1st January 1974. The Government interest is held by the Abu Dhabi National Oil Company, ADNOC. ADCO was incorporated under Law No. 14 for 1978, on 8th October 1978 and has been responsible, since February 1979, for operations in the concession area, which after relinquishments, now covers more than 21,000 square kilometers.