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Investor Relations
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FinancialNews
16-10-19
UAE-Russian oil alliance
(MENAFN) A new agreement was signed between Abu Dhabi government, Abu Dhabi National Oil Company (Adnoc) and Russia's Lukoil Oil Company awarding its supplementary a five per cent stake in the Ghasha ultra-sour gas concession that comprises the Hail, Ghasha, Dalma and other offshore sour gas fields in the emirate.
At the same time, a framework agreement to explore potential future cooperation in relation to the Ghasha concession was signed between Adnoc, Lukoil, and the Management Company of Russian Direct Investment Fund, (RDIF.
A statement from the Emirati firm said that the concession award to Lukoil marks the first time that a Russian company joins an Adnoc concession and builds on the strong and strategic bilateral relations between the UAE and Russia.
MENAFN1610201900450000ID1099133286
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