Adnoc will own 60% of the joint venture, while ConocoPhillips would own the rest, according to a statement form Adnoc.

The project has an estimated cost of around $10 billion sources have previously told Reuters.

It would process around 1 billion cubic feet per day of sour gas from the Shah field to pump around 540 MMcfd of gas suitable for consumption.

Adnoc awarded ConocoPhillips the contract last February, but negotiations on the final deal have taken over a year to conclude.

Source: Upstream

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