US oil major ConocoPhillips has won a contract for a project expected to cost more than $10 billion to develop sour gas reserves
US oil major ConocoPhillips has won a contract for a project expected to cost more than $10 billion to develop sour gas reserves in the UAE, the Abu Dhabi National Oil Company (Adnoc) said .
The project was one of the largest upstream projects in the past year open to international companies competing for access to the Middle East's oil and gas fields.
The company emerged as the front runner for the contract last month, beating competition from ExxonMobil, Occidental Petroleum and Royal Dutch Shell. Conoco was expected to take a 40 percent stake in the project, while Adnoc would hold the rest.
Sour gas requires treatment to reduce the content of sulphur or other impurities. Developing the sour gas at the Shah field would cost at least $10 billion, an industry