Adnoc to go ahead with $10b Shah field

30 Apr 2010

(MENAFN) Abu Dhabi National Oil Company (Adnoc) announced that it will go ahead with a project to develop the Shah gas field despite ConocoPhillips’ withdrawal from the scheme, Reuters reported.

According to Adnoc�s statement, contracts for facilities to pump and process the gas would be awarded in the near future, saying that the Shah project is key to UAE�s plans to boost gas output. It said that this field development is a world-class project that will develop a key resource for the emirate of Abu Dhabi.

Conoco announced earlier that it had ended its participation in the $10 billion Shah project, its second withdrawal in a month from high-profile projects in the Gulf. The US-based firm is restructuring its operations to concentrate on oil and gas exploration and production and reduce its heavy debt burden.

More News

This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more