Abu Dhabi signs new agreement with Chinese oil company

16 November 2017
CNPC may participate in offshore oil and sour gas field developments

Abu Dhabi National Oil Company (Adnoc) has signed a framework agreement with the China National Petroleum Corporation (CNPC) for possible participation in offshore oil and sour gas field development.

The memorandum of understanding (MOU) was signed by Sultan Ahmed al-Jaber, UAE Minister of State and CEO of Adnoc, and Wang Yilin, CNPC Chairman. The MOU covers possible CNPC participation in the Lower Zakum, Umm Shaif and Nasr offshore oil fields and the Bab, Bu Hasa, Ghasa and Hail sour gas developments.

In Ferbuary, Adnoc awarded CNPC an 8 per cent interest in the emirate’s onshore oil concession.

 

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