Adnoc in pact with CNPC to collaborate in upstream projects

19 January 2012: Abu Dhabi National Oil Co (Adnoc) and China National Petroleum Corp (CNPC) have signed a strategic agreement to collaborate in upstream projects in undeveloped areas. The areas will be identified by the Supreme Petroleum Council (SPC), the highest authority on energy policy. According to the agreement, CNPC will conduct technical and economic studies in order to assess those (undeveloped) areas and will forward the studies to Adnoc. The agreement also aims at cooperating in areas of petrochemical development, technical services, engineering and construction services.

Source: Ameinfo