ABU DHABI - Abu Dhabi National Oil Company (ADNOC) said on Tuesday it has granted Italian oil major Eni a 40-year concession, awarding it a 25 percent stake in its offshore ultra-sour gas mega project.
Eni will contribute 25 percent of the development cost of the multi-billion dollar project, ADNOC said in a statement announcing the signing of the pact.
ADNOC added that it is in discussion with other potential partners for the remaining 15 percent stake in the Ghasha concession.
The Ghasha Concession consists of the Hail, Ghasha, Dalma and other offshore fields.
(Reporting by Rania El Gamal; Editing by by Simon Cameron-Moore) ((email@example.com; +20225783290; Reuters Messaging: firstname.lastname@example.org))