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Partnership Proposal |
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ConocoPhillips is to sign a contract to develop sour gas reserves in
the United Arab Emirates, according to a source at Abu Dhabi
National Energy co (Adnoc). The project is estimated to require over
US$10bn in investment.
The UAE holds the world's fifth-largest gas reserves at nearly 214
trillion cubic feet, much of it sour. Such gas contains around 30
per cent hydrogen sulphide, making it tougher and more expensive to
produce than conventional gas reserves.
Record oil revenues have fuelled economic expansion and triggered
rapidly rising demand for gas from both the power sector, aided by
increase use of air conditioning and the Gulf Arab state's growing
heavy industry.
Reported by Reuters
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