UAE

Korean Group Wins Abu Dhabi Oil Deal As ADCO Concession Nears Expiry

 

A South Korean consortium has finalized a deal to take a 40% stake in three concessions in Abu Dhabi that have a total of 570mn barrels of oil in place, the Korean government said on 5 March. The award clears the way for the Supreme Petroleum Council (SPC) to focus on whether to renew the concession for the Abu Dhabi Company for Onshore Oil Operations (ADCO) consortium that operates Abu Dhabi’s biggest...