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UAE OIL COS SIGN 20-YEAR GASCO JV PACT RENEWAL.

AsiaPulse News

| April 01, 2009 | COPYRIGHT 2009 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

ABU DHABI, April 1 Asia Pulse - The Joint Venture Agreement renewal for Abu Dhabi Gas Industries Ltd. (GASCO) was signed Tuesday between its shareholders Abu Dhabi National Oil Company (ADNOC), Shell Abu Dhabi B.V., Total S.A., and Partex Gas Corporation.

Signed in 1978 under the directive of Sheikh Zayed Bin Sultan Al-Nahyan to develop Abu Dhabi's Onshore Associated Gas resources, the original Joint Venture Agreement lasted for 30 years.

During this period, GASCO produced marketable liquids from previously flared Associated Gas, thus making a major contribution to Abu Dhabi economic growth and acting as a precurser to reduce gas flaring and related air ...

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