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| 13 June, 2018

PetroChina lifts crude from offshore ADNOC concessions

The Umm Shaif and Nasr field reported 800,000 barrels for shipping which will be co-loaded with another 200,000 barrels from an onshore field

ADNOC Group company pipeline. Image used for illustrative purpose.

ADNOC Group company pipeline. Image used for illustrative purpose.

Teneo Strategy handout via Thomson Reuters Projects

BEIJING- * PetroChina said on Wednesday that it started lifting crude oil from two of Abu Dhabi National OIl Company's offshore concessions under a 40-year agreement, the company said via its official newspaper

* CNPC has a 10 percent stake separately in the Umm Shaif and Nasr concession and in the Lower Zakum concession

* In June, the Lower Zakum oil field reported 1 million barrels for ship loading. The Umm Shaif and Nasr field reported 800,000 barrels for shipping which will be co-loaded with another 200,000 barrels from an onshore field

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(Reporting by Meng Meng and Aizhu Chen; Editing by Sunil Nair) ((meng.meng@thomsonreuters.com; +86-10-66271220 ; Reuters Messaging: meng.meng.thomsonreuters@reuters.net))