- DUBAI: Occidental Petroleum has signed a partnership agreement to jointly develop a $10 billion natural gas field project in the UAE, firming up a deal announced earlier in the year.
Los Angeles-based Oxy agreed to develop the Shah gas field with Abu Dhabi National Oil Company in January.
The companies said at the time only that they had agreed in principle to the deal.
State news agency WAM announced the formal signing of the partnership agreement on Thursday.
It says the field should begin production in 2014.
The Shah field is located deep below the desert about 180km southwest of Abu Dhabi.