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  • 12-11-18

    ADNOC, Total ink deal on gas concession stake

    (MENAFN) France's Total acquired a stake of 40-percent in an unconventional gas concession from Abu Dhabi National Oil Company (ADNOC) under a deal between the two sides.

    ADNOC was confirmed to have penned the stake acquisition deal on behalf of the Abu Dhabi government with the French oil giant.

    Total, under the pact, is ready to explore, review and develop the Ruwais Diyab Unconventional Gas Concession.

    The agreement is expected to contribute in the achievement of the goal ADNOC set to have by 2030 an unconventional gas production capacity of 1 billion cubic feet per day.

    MENAFN1211201800450000ID1097687587

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