Abu Dhabi’s state-owned ADNOC signed up two Chinese oil and gas companies to fill the final 12% WI earmarked for foreign partners at its onshore ADCO concession for a combined price tag of nearly US$2.7 billion. China’s state-owned CNPC paid AED6.5 billion ($1.77 billion) to enter the concession with an 8% stake, followed two days later by private conglomerate CEFC China Energy, which contributed an AED3.3 billion ($888 million) sign-up bonus for 4% WI.......
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