Consortium will be comprised of Eni (the operator) with a 41.25% participating interest, Total with 33.75% and Qatar Petroleum with 25%, the statement said.
Downstream operations in the oil industry include refining, sales and shipping.
Emaar has also announced that it will open an office in Beijing, in an attempt to expand its business activities in China.
STC's shares were trading 0.36% higher at SAR110 by 14:02 GST on Tuesday and have added 19.83% so far since the start of 2019
Reliance initially held talks on offering Aramco at least 20% in the special purpose vehicle covering refining, petrochemicals and marketing
Ministry of Education is planning to recruit 150 Chinese language teachers for the academic year 2019-2020
Neolix will build driverless vehicles customised to the region's weather conditions
Sentiment weighed down by global economic outlook and narrowing margins
Affected routes include Mumbai, Hyderabad, Jeddah, Dubai, Jaipur, Kathmandu, Colombo, Amman, Kuwait, Medina, Doha among others
Live animals and their products accounted for the lion's share of imports, exports
Real estate may be a leading indicator of demographic change in the UAE, as opposed to being driven by it
Emirates REIT's most recent accounts show a cash position of $38 million, while it's market cap closed last week at $209 million
E-commerce only represents 1.9 percent of total retail sales in MENA, compared to 10-15 percent globally
In the third article in a series on entrepreneurship and running a growing business, Wadih Haddad, founder of self storage firm The Box, discusses the challenges faced when recruiting