Stay updated with breaking news from Sofala. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
In a significant move signaling its international growth strategy, the Abu Dhabi National Oil Company (ADNOC) has announced the acquisition of a 10 p
As it continues to expand its international operations, ADNOC has acquired a 10% interest in an LNG project offshore Mozambique.
Abu Dhabi National Oil Co. (ADNOC) will purchase the stake in the Area 4 concession from Galp Energia SGPS SA, it said in a statement Wednesday. Galp will receive $650 million, and further contingent payments of as much as $500 million when two planned development phases go ahead, the Portugese company said in a separate statement.
The deal will give ADNOC a share of the liquified natural gas output from the concession, which has a combined capacity of over 25 million metric tons per pear, the company said in a statement.
The deal will give ADNOC a share of the liquified natural gas output from the concession, which has a combined capacity of over 25 million metric tons per pear, the company said in a statement.