Offshore Investors Forum in Abu Dhabi

National Bank of Abu Dhabi Added to Sponsor Roster for Next Week’s Latin America Mid-East Investors Forum in Abu Dhabi

ABU DHABI, United Arab Emirates, April 21, 2010 – The National Bank of Abu Dhabi is the newest sponsor of next week’s Latin America Mid-East Investors Forum, a move that reinforces the growing bond between Latin America and the Middle East in a number of areas including agribusiness, real estate, infrastructure, oil, renewables and more.

The Forum takes place this coming Monday and Tuesday, April 26th and 27th, at the Fairmont Bab Al Bahr in Abu Dhabi, and features senior-level executives from Latin America’s corporate and investment community, as well as public sector leaders such as the Brazilian Development Bank (BNDES) and the head of Public Credit for the Republic of Mexico.

Registration to the forum is nearly full, with a few seats left for qualified institutional investors representing SWFs, family offices, asset managers, private equity and direct investors, and high-net worth retail investors. Registration for these delegates is free of charge and must be confirmed before the event starts.

First oil discoveries

In the 1930s, as the pearl trade declined, interest grew in the oil possibilities of the region. On 5 January 1936, Petroleum Development (Trucial Coast) Ltd (PDTC), an associate company of the Iraq Petroleum Company, entered into a concession agreement with the ruler, Sheikh Shakhbut bin Sultan al Nahyan, to explore for oil. This was followed by a seventy-five-year concession signed in January 1939. However, owing to the desert terrain, inland exploration was fraught with difficulties. In 1953, D’Arcy Exploration Company, the exploration arm of BP, obtained an offshore concession which was then transferred to a company created to operate the concession: Abu Dhabi Marine Areas (ADMA) was a joint venture between BP and Compagnie Française des Pétroles (later Total). In 1958, using a marine drilling platform, the ADMA Enterprise, oil was struck in the Umm Shaif field at a depth of about 8,755 feet (2,669 m). This was followed in 1959 by PDTC’s onshore discovery well at Murban No.3.

In 1962, the company discovered the Bu Hasa field and ADMA followed in 1965 with the discovery of the Zakum offshore field. Today, in addition to the oil fields mentioned, the main producing fields onshore are Asab, Sahil and Shah, and offshore are al-Bunduq, and Abu al-Bukhoosh.