BOSTON (Thomson Financial) - ConocoPhillips Tuesday said it has signed an
interim agreement with Abu Dhabi National Oil Co. to develop the Shah Gas Field
in Abu Dhabi.
Under the terms of the agreement, the companies will jointly share the
ongoing cost of engineering and design and project mobilization for the Shah Gas
Field development. Abu Dhabi National Oil Co. will have a 60% interest and
ConocoPhillips will have a 40% interest in the project.
The project involves the development of natural gas condensate reservoirs
within the Shah Gas Field, ConocoPhillips said.
Shares of Houston-based ConocoPhillips slipped 2% to $88.51.
Casey Logan
cl/pc
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