Abu Dhabi National Oil Company (Adnoc) will take full control of the Adco oil concession when the decades-old partnerships with some of the world's bigest oil companies ends in a few days' time, two industry sources said on Wednesday.
Cosmo Oil Co said on Tuesday that one of its subsidiaries was close to finalising a 30-year extension on its stakes in three oil fields in Abu Dhabi and the granting of a new concession area in the emirate.
Saudi Arabia's cabinet has given final approval to an agreement that extends an oil concession held by US major Chevron in its Neutral Zone shared with Kuwait.
The concession is the only oil production deal that survived the Saudi national
Libya will extend oil and gas concessions with Italian oil and gas major Eni for 25 years from 2008, the company said in a statement on Tuesday, with cuts to the percentage of oil payments for costs.
Eni and NOC will each invest $14 billio