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Conocophillips Terminating Agreement for Shah Gas

Source: www.gulfoilandgas.com 4/28/2010, Location: Middle East

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."

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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