ADNOC Awards China National Petroleum Corporation 8% Stake in ADCO Onshore Concession
Partnership will maximise onshore field value in support of ADNOC’s long-term growth objectives 19 February 2017 Abu Dhabi, UAE – Abu Dhabi National Oil Company (ADNOC), today, signed an agreement with the China National Petroleum Corporation (CNPC), awarding it an 8% interest in Abu Dhabi’s onshore oil concession. CNPC contributed a sign up bonus of AED 6.5 billion ($1.77 billion) to enter the concession. The onshore […]