Abu Dhabi / ConocoPhillips / Shah project
ConocoPhillips is in advanced negotiations with state-owned Abu Dhabi National Oil Co (ADNOC) on the project to develop the sulfurated natural gas from Shah, estimated at USD 10 billion. The news, which was announced by sources close to the talks, is surprising since it was believed that the American group had been eliminated from the talks, like fellow US group ExxonMobil. At the end of 2007, the announcement was made that only Royal Dutch-Shell and Occidental Petroleum were still in the running to participate in the largest non-associated gas development project ever conducted in the emirate.
The reasons why ADNOC has changed its opinion about ConocoPhillips remain uncertain, according to observers. (BIP, The Wall Street Journal Europe)
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