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FINANCIAL NEWS
Adnoc, Oxy sign USD500m contract
12 Feb 2015
(MENAFN) Abu Dhabi National Oil Company (Adnoc) and US-based Occidental Petroleum signed a technical agreement to improve Al Hail and Ghasha oilfields, Emirates 247 reported.
State-run Adnoc and Oxy will cooperate in fulfilling activities that reach up to USD500 million in investments, Adnoc said.
‘The agreement covers 3D seismic surveys, drilling of appraisal wells and conducting of engineering studies necessary for the fields’ development,’ The National Oil Company added.
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