Abu Dhabi and Conoco Finally Sign Shah Sour Gas Development Deal

摘要

Abu Dhabi National Oil Co. (Adnoc) and ConocoPhillips finally signed a long-awaited joint venture agreement on Thursday to fund and develop Abu Dhabi's Shah sour gas field. The pact comes more than a year after the US company beat out front-runners Royal Dutch Shell and Occidental to be chosen by Adnoc as the preferred bidder for the project. Under their field joint venture and field entry deal, the two firms have agreed to share the cost of the development, Adnoc said.