50th Anniversary of 1st Crude Oil Shipment 75th Anniversary of Concession Agreement

United Arab Emirates2 April 2015Draft

The Abu Dhabi Company for Onshore Petroleum Operations Ltd, (ADCO) is a limited liability company established to explore, develop and operate the oil and gas fields of the concession area on behalf of its shareholders. The onshore concession area is located in Abu Dhabi, capital city of the United Arab Emirates. The original concession agreement was signed by the Ruler of Abu Dhabi on January 11, 1939, with Petroleum Development (Trucial Coast) Ltd. The detailed geological work did not begin until after World War II, and exploratory drilling began in Abu Dhabi in February 1950. The first commercial oil discovery in the onshore concession was made at Bab field in T960, and on December 14, 1963, crude oil shipment began from Jebel Dhanna Terminal. The celebration to mark the 50th anniversary of first crude oil shipment from Bab field through Jebel Dhanna Terminal was held on December 14, 2013. It was one most memorable days in the company's history. Shortly after, on January 10, 2014, ADCO celebrated the completion of 75 years of the original oil Concession Agreement with foreign shareholders. Size: 35.37 x 45 mm in sheets of 16 stamps.