Qatar Petroleum signs deal with Abu Dhabi for Al-Bunduq oil field operation - The Peninsula Qatar

Qatar Petroleum signs deal with Abu Dhabi for Al-Bunduq oil field operation - The Peninsula Qatar:

"Qatar Petroleum signed a concession agreement with the Abu Dhabi Supreme Petroleum Council (on behalf of the Government of Abu Dhabi), Abu Dhabi National Oil Company (ADNOC), United Petroleum Development Co Ltd (Japan), and Bunduq Company Limited (operator) for the continued development and operation of the shared Al-Bunduq offshore oil field. The signed agreement replaces the original concession agreement signed in March 1953 between the ruler of Abu Dhabi and D’Arcy Exploration Company Limited, which was amended several times since then. In March 1969, the Qatar and Abu Dhabi signed an agreement stipulating that the Al-Bunduq field is equally owned by both sides. On this occasion, Mr. Saad Sherida Al-Kaabi, the President & CEO of Qatar petroleum, reaffirmed Qatar Petroleum’s commitment to its international reputation as a trustworthy national oil company and a reliable energy provider at all times and under all conditions."



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