ADNOC’s XRG Takes Stake in Offshore Gas Block in Turkmenistan

ADNOC’s XRG Takes Stake in Offshore Gas Block in Turkmenistan

XRG, the newly created energy investment firm of Abu Dhabi’s national oil company ADNOC, has taken a 38% stake in a production sharing contract for an offshore block of gas and condensate fields in Turkmenistan. XRG, Malaysia’s state energy firm Petronas, and Turkmenistan’s state firm Hazarnebit have signed a new Production Sharing Contract (PSC) with state company Turkmennebit for the offshore Block I gas and condensate fields. As part of the t…

ADNOC's XRG acquires 38% stake in Turkmenistan's offshore Block I natural gas field

ADNOC's international investment arm, XRG, has acquired a 38% stake in an offshore natural gas block in Turkmenistan, marking a significant step in the company's global expansion strategy

ADNOC's XRG takes stake in Turkmenistan gas block

XRG, set up late last year and which ADNOC has said has $80 billion in assets, has a mandate to pursue global deals in chemicals, natural gas and renewables

XRG, PETRONAS partner in major gas expansion deal in Turkmenistan

The agreement grants XRG a 38 per cent participating interest in the offshore “Block I” gas and condensate fields located in Turkmenistan’s Caspian Sea region The post ADNOC’s XRG, PETRONAS partner in major gas expansion deal in Turkmenistan appeared first on Gulf Business.

EU Clears ADNOC’s $16.3 Billion Acquisition of Covestro

Abu Dhabi National Oil Company (ADNOC) secured unconditional approval from EU antitrust regulators for its €14.7B acquisition of Covestro.