ConocoPhillips ended participation in Abu Dhabi project
ConocoPhillips has decided to end its participation in developing the Shah Gas Field with Abu Dhabi National Oil Company (ADNOC). ConocoPhillips had considered holding a 40 percent ownership stake in the project.
"The Shah Gas Field will be a world-class project that will develop a key resource for Abu Dhabi and the region and it was a difficult decision not to participate in a project of this importance," said Ryan Lance, senior vice president, E&P International, ConocoPhillips. "We value our relationship with ADNOC and will continue to look for opportunities to work together in the future."
ConocoPhillips is an integrated energy company with interests around the world. Headquartered in Houston, the company had approximately 30,000 employees, $153 billion of assets, and $149 billion of revenues as of December 31, 2009.
- ConocoPhillips joins ADNOC in development of Shah Gas Field
- ConocoPhillips and Abu Dhabi National Oil Company sign Shah gas field joint venture and field entry agreements
- Saudi Seen Selecting Gas Consortium Leaders In March
- SAS to host key players from Middle East oil and gas industry at ‘Energy Conference 2009’