VOL. XLIII

No. 49

4-December-2000

UAE

Agreement For BP/Total Reentry Into Abu Dhabis Upper Zakum Offshore Oilfield Venture Remains On Hold

A prospective agreement between the Abu Dhabi National Oil Company (ADNOC) and BP and TotalFinalElf under which the two major international oil groups would acquire significant equity stakes in the Zakum Development Company (Zadco) has now effectively been put on hold following the failure of Abu Dhabis Supreme Petroleum Council (SPC) to approve the deal as...