November 02:
Occidental Petroleum Corp. is in the final steps of finalizing a deal to sell three quarters of its 40% stake in the $ 10 billion Shah natural-gas project in the United Arab Emirates to Abu Dhabi-owned
Occidental Petroleum Corp. is in the final steps of finalizing a deal to sell three quarters of its 40% stake in the $ 10 billion Shah natural-gas project in the United Arab Emirates to Abu Dhabi-owned
The deal, which is expected to be announced later this month, has a price tag of around $3 billion, the industry publication reported, quoting unnamed sources.
Shah is expected to start production by the end of the year. Oxy plans to continue to operate the field.
When operational, Shah is expected to process one billion cubic feet a day of sour gas into about 500 million cubic feet of fuel daily. It may also process 4,400 tons of natural-gas liquids a day, 35,000 barrels a day of condensates and 9,200 tons a day of sulfur.
Source: www.nasdaq.com/article/occidental-finalizes-deal-to-sell-shah-stake-to-abu-dhabis-mubadala--report-20141102-00005?
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