The Abu Dhabi National Oil Company (ADNOC) has finished awarding the new ADNOC Offshore concessions, replacing the original ADMA contract which expired on 8 March 2018. The award process attracted a lot of attention given the scale of the projects on offer, with around 400,000 b/d of production available for foreign partners. We saw a continuation of the shift eastwards, with awards to Japanese, Chinese and Indian companies. Total has held its position as the top producer (after ADNOC), and Eni was a new entrant to Abu Dhabi. This award heralds an end to access for foreign companies to Abu Dhabi's large oil concessions. We assess what is left for investors.