VOL. XLIV

No. 08

19-February-2001

UAE

ADNOC Asks Shell And ExxonMobil To Submit Proposals For Upper Zakum Oilfield Venture

MEES learns that the Abu Dhabi National Oil Company (ADNOC) has asked Shell and ExxonMobil to submit proposals to acquire significant equity stakes in the Zakum Development Company (Zadco). A prospective agreement between ADNOC and BP and TotalFinalElf was effectively put on hold at the end of last year following the failure of Abu Dhabis Supreme Petroleum Council (SPC) to...