Abu Dhabi National Oil Company (ADNOC), state oil company of the United Arab Emirates (UAE), has awarded a 40-percent stake in an unconventional gas concession to the French oil giant Total, official news agency WAM reported Sunday.
Under an agreement, signed by ADNOC on behalf of the Abu Dhabi government, and Total, the French oil giant will explore, appraise and develop the Ruwais Diyab Unconventional Gas Concession, in a major step likely to help ADNOC reach its target of 1 billion cubic feet a day of unconventional gas output by 2030.
Crown Prince of Abu Dhabi Sheikh Mohamed bin Zayed Al Nahyan and the visiting CEO of Total exchanged views on the prospects of collaboration, especially in the development of the UAE energy sector.
Editor:Cherie
