Tokyo—Japan’s Inpex has won a 5% stake in Abu Dhabi’s giant Adco onshore oil concession for 40 years, which will enable the largest Japanese upstream company to market as much as 80,000-90,000 b/d of Murban crude by 2017. “We will be able to market all of our equity output [at the Adco concession],” Hiroshi Fujii, Inpex managing executive officer, said during a press briefing in Tokyo on Monday. Although Inpex did not specify how it would market Murban crude, Fujii said the company would give priority to its domestic customers due to the popularity of the grade among Japanese refiners.
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