Abrahamic Covenant

I see the covenant or promises the Lord made with Abraham cover four areas -

Land

...I have purposed to take thee away out of Haran, and to make of thee a minister to bear my name in a strange land which I will give unto thy seed after thee for an everlasting possession, when they hearken to my voice." (Pearl of Great Price Abraham 2:6)

For many biblical readers they may assume this land was the land of Canaan or somewhat larger. But we know in the Book of Mormon it is much more land to the west including the western hemisphere. Now that is a land.

Priesthood

"...I will lead thee by my hand, and I will take thee, to put upon thee my name, even the Priesthood of thy father, and my power shall be over thee." (Pearl of Great Price Abraham 1:18)

"...and in thee (that is, in thy Priesthood) and in thy seed (that is, thy Priesthood), for I give unto thee a promise that this right shall continue in thee, and in thy seed after thee (that is to say, the literal seed, or the seed of the body) shall all the families of the earth be blessed..." (Pearl of Great Price Abraham 2:11)

There is no question that it will be his posterity that will hold the priesthood and perform the ordinances thereof.

Posterity

"...I will make of thee a great nation, and I will bless thee above measure, and make thy name great among all nations, and thou shalt be a blessing unto thy seed after thee, that in their hands they shall bear this ministry and Priesthood unto all nations..." (Pearl of Great Price Abraham 2:9)

"...I will multiply thee, and thy seed after thee, like unto these; and if thou canst count the number of sands, so shall be the number of thy seeds." (Pearl of Great Price Abraham 3:14)

I believe this extends more than this earth life only.

Eternal Life

"...all the families of the earth be blessed, even with the blessings of the Gospel, which are the blessings of salvation, even of life eternal." (Pearl of Great Price Abraham 2:11)

This same covenant or promised blessings of Abraham are given to those who are faithful and receive all the ordinances of the gospel.