ABU DHABI: Abu Dhabi National Oil Company (ADNOC) said on Sunday it signed 40-year agreements with France’s Total, awarding the company a 20 percent stake in the Umm Shaif and Nasr concession and a 5 percent interest in the Lower Zakum concession.
Total has paid fees of $1.45 billion to enter the concessions which began on March 9, ADNOC said in a statement.
Source: Brecorder.com
