Abu Dhabi state energy giant Adnoc and UK major BP on 14 February announced the formation of a new gas-focused JV to “initially focus on development of gas assets in Egypt.”
Though the 14 February announcement makes no mention of any other country, it is clearly a follow-up to plans announced eleven months earlier when the two firms said they were bidding, via a planned 50:50 JV, for 50% of Israel’s NewMed Energy whose key asset is a majority 45.34% stake in the country’s giant Leviathan field (MEES, 31 March 2023). (CONTINUED - 1175 WORDS)
