Shell confirms 30-year Bab sour gas partnership in UAE
DUBAI, April 30
DUBAI, April 30 (Reuters) - Royal Dutch Shell will form a joint venture with the Abu Dhabi National Oil Company (ADNOC) to develop the emirate's Bab sour gas reservoirs, a venture in which the Anglo-Dutch firm will take 40 percent.
The two companies will now enter a period of commercial and technical work leading to the development of the Bab sour gas reservoirs to meet soaring gas demand in the UAE.
"We have more than 60 years' experience of safe and successful sour gas field development globally and we will apply this experience, along with our leading research and development, and technology expertise, to the development of the Bab resource," Peter Voser, Shell's Chief Executive Officer, said in a statement on Tuesday.
The project has previously been valued at around $10 billion.