ConocoPhillips pulls out of Shah gas field development with Abu Dhabi

Source: ConocoPhillips

ConocoPhillips (COP) has decided to end its participation in developing the Shah Gas Field with Abu Dhabi National Oil Company (ADNOC). ConocoPhillips had considered holding a 40 percent ownership stake in the project. 

“The Shah Gas Field will be a world-class project that will develop a key resource for Abu Dhabi and the region and it was a difficult decision not to participate in a project of this importance,” said Ryan Lance, senior vice president, E&P International, ConocoPhillips. “We value our relationship with ADNOC and will continue to look for opportunities to work together in the future.”



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