Sultan Ahmed Al Jaber

BP signs $2.2 bln Abu Dhabi oil deal

Published by Hurriyet on Sun, 12/18/2016 - 11:21

British oil giant BP secured a 10-percent share in an onshore oil concession in Abu Dhabi on Dec. 17 in a deal worth $2.2 billion, the companies said.

BP signed an agreement with Abu Dhabi National Oil Company (ADNOC) to take a stake in the Abu Dhabi Company for Onshore Petroleum Operations (ADCO) which operates the 40-year concession.