ConocoPhillips and Abu Dhabi National Oil Company are set to sign an agreement next week.
(Bloomberg) -- Abu Dhabi National Oil Co. will sign a contract within two months to develop its sour gas reserves at the Shah field, Gulf News reported, citing officials it didn't identify.
Abu Dhabi, which holds the fifth-largest gas reserves in the world, is offering a 40 percent stake in the venture, which has a price tag of $10 billion. ConocoPhillips, the third- biggest U.S. oil company, is ``working closely'' with Abu Dhabi National Oil, also known as Adnoc, to help develop the sour gas reserves, Chief Executive Officer Jim Mulva said in April.
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