Abu Dhabi Continues Onshore Oil Fields Uncertainty
Abu Dhabi wants to extend by a year the concession for its main onshore oil fields, keeping its options wide open. These include breaking it up into individual fields; reducing consortium members’ equity; and adding new shareholders. Shareholders of Abu Dhabi Company for Onshore Oil Operations (ADCO) are entering their fifth year of uncertainty, which looks set to continue into a sixth, adding to the...
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