• İstanbul 13 °C
  • Ankara 12 °C

UAE and India sign ‘historic’ oil agreement

UAE and India sign ‘historic’ oil agreement
Indian consortium awarded a 40-year term contract, reports local media

By Ahmed al-Masri and Zeynep Tufekci

ABU DHABI (AA) - The United Arab Emirates (UAE) and India signed a “historic” oil agreement, local media reported Saturday.

The country’s official Emirates News Agency (WAM) reported that Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Narendra Modi, Prime Minister of India signed the “historic agreement,” which awarded “a consortium of Indian oil companies a 10 percent interest in Abu Dhabi’s offshore Lower Zakum concession”.

The agreement, which will go into effect on March 9, will have a 40-year term, the WAM reported.

The Indian consortium contributed a participation fee of around $599 to enter concession, according to the WAM.

The agency reported that it was the first time “Indian oil and gas companies have been given a stake in Abu Dhabi’s hydrocarbon resources”.


source: News Feed
This news is a total 77 time has been read
UYARI: Küfür, hakaret, rencide edici cümleler veya imalar, inançlara saldırı içeren, imla kuralları ile yazılmamış,
Türkçe karakter kullanılmayan ve büyük harflerle yazılmış yorumlar onaylanmamaktadır.
This news yet comment has been added .
Other News
  • 'World is more polarized after Trump came to power'22 November 2018 Thursday 12:13
  • Turkey alone hosts 15 pct of refugees in world: MP22 November 2018 Thursday 11:53
  • Turkish students sell fruit to raise funds for Gaza22 November 2018 Thursday 11:33
  • Denmark suspends arms sales to Saudi Arabia22 November 2018 Thursday 11:33
  • OPINION – Prospects for truce in Yemen22 November 2018 Thursday 10:53
  • Over 110 irregular migrants held in western Turkey22 November 2018 Thursday 10:48
  • Death toll from California wildfire climbs to 8322 November 2018 Thursday 10:03
  • Turkey: Operator remanded over Zonguldak mine blast22 November 2018 Thursday 09:13
  • US, Pakistan ties plunge with new war of words22 November 2018 Thursday 08:43
  • Diary22 November 2018 Thursday 08:23
  • All Rights Reserved © May 2014 US Muslims | Unauthorized and the resources published.
    Haber Scripti: CM Bilişim