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Occidental wins Abu Dhabi’s Shah gas project – sources
There were no other partners for the project-says source.
January 19, 2011 2:14 by Reuters
Occidental Petroleum has been awarded a contract to develop Abu Dhabi National Oil Company’s (ADNOC) Shah gas project, in a deal expected to be worth $10 billion.
“ADNOC has awarded the Shah gas field to Oxy,” said an ADNOC source in Abu Dhabi.
The ADNOC source, plus an Abu Dhabi energy official, said there were no other partners for the project.
A second ADNOC source also confirmed that Occidental had won the deal.
U.S. major ConocoPhillips had pulled out of bidding for the project in April of 2010, but Occidental, Royal Dutch Shell and Exxon Mobil had remained in the running.
(Reporting by Stanley Carvalho and Humeyra Pamuk; writing by Amena Bakr)