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Adnoc Restores JV With Foreign Paartners

The Abu Dhabi National Oil Company renewed its joint venture with two foreign partners

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Gasco was created in 1978 as a 30-year partnership between Adnoc, Royal Dutch Shell, Total and Partex. Total and Shell each own 15 per cent, with 2 per cent left to Partex and the remaining 68 per cent held by Adnoc.

Adnoc expects to invite bidders to compete for the 10 engineering, procurement and construction contracts soon, Ali Al-Murar, senior vice president of support services at the joint venture company, Reuters reported.

Author: Ksenia Kochneva