Oxy will take a 40% share of Abu Dhabi National Oil Company’s (ADNOC’s) $10bn Shah gas project in a 30-year contract.
The Shah gas project consists of processing plants with a capacity of one billion cubic feet of gas per day.
The production will start in 2014, and will be of 500 million cubic feet of gas per day and a considerable amount of condensate and natural gas liquids.
US based energy company ConocoPhillips left the Shah field last April, and since then ADNOC has been searching for a partner to develop the gas field.
