Shell Strikes $10B JV Deal For Abu Dhabi Gas Field

Law360, New York (April 30, 2013, 7:08 PM EDT) -- Royal Dutch Shell PLC has been chosen by Abu Dhabi National Oil Co. as its partner in an estimated $10 billion joint venture to develop a natural gas field in Abu Dhabi, beating out a bid by French rival Total SA, the oil giant announced Tuesday.

Shell will hold a 40 percent stake in the joint venture — a 30-year deal to develop the Bab “sour gas” reservoirs in the emirate — with the remaining 60 percent to remain with ADNOC, the oil giant claims. While...
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