Adnoc and Shell sign deal

Abu Dhabi National Oil Company (Adnoc) and Shell Abu Dhabi signed a Memorandum of Understanding (MoU) yesterday under which Shell will evaluate potential joint exploration, development and production with Adnoc of off-shore deep gas fields prospects in Abu Dhabi. Once the evaluation is completed, Shell hopes to move forward rapidly with final agreements in order to begin joint exploration and development activities.

Shell is a Joint Venture partner with quickly in the Abu Dhabi Onshore Company (ADCO) with an interest of 9.5 per cent and in the Abu Dhabi Gas Industries Limited (Gasco) with an interest of 15 per cent.

Shell's involvement in Abu Dhabi began in 1939 as shareholder of Petroleum Development (Trucial Coast) and it remains committed to its joint ventures in Abu Dhabi, while contributing to sustainable development in the oil and gas industry.

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