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FINANCIAL NEWS
Abu Dhabi’s ADNOC inks USD2.2bn oil deal with BP
18 Dec 2016
(MENAFN) Abu Dhabi National Oil Co. (ADNOC) awarded British oil BP a 10 percent share in an onshore oil concession in an agreement worth USD2.2bn.
Furthermore, the British firm signed a deal with ADNOC in order to take a share in the Abu Dhabi Co. for Onshore Petroleum Operations (ADCO).
The renewed tie with BP will support ADNOC in achieving maximum economic value and levels of recovery.
In addition, the agreement will offer BP with long-term access to notable and competitive resources that they understand well.
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