30 October 2025
30 October 2025
The JV is expected to operate for five to seven years.
This investment is part of a broader plan to invest Kd9.8bn ($31.9bn) in drilling and maintaining up to 6,193 wells by the end of the decade.
The company’s net operating income stood at $5.27bn (Nkr52.62bn), a decrease from $6.91bn in the same period last year.
The Zohr-9 well encountered a gas-bearing layer, which is expected to contribute to domestic market supply and reduce import costs.
The fund aims to establish long-term oil and natural gas reserves by investing in eight wells within the basin’s Cherokee Formation.
ADES will resume multiple onshore agreements, and one offshore contract scheduled to commence in January 2026.
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