Publication Date:
Fri, 2010-04-30 05:33
The Abu Dhabi National Oil Company said in a statement Thursday the field represents “a world-class project that will develop a key resource for the emirate.”
ADNOC says it awarded a site preparation contract last month, and plans to sign additional building and operating contracts “in the near future.” The site aims to process one billion cubic feet of gas per day.
ConocoPhillips gave no reason for dropping its 40 percent stake in the $10 billion project Wednesday. The move came a week after the Houston-based company pulled out of a multibillion-dollar project refinery project in Saudi Arabia.
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