China, UAE ties span a wide range
By Xu He |
chinadaily.com.cn |
Updated: 2018-07-19 07:00
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Energy
The UAE has emerged as a trusted partner of China in energy after landmark agreements that awarded China National Petroleum Corporation shares in Abu Dhabi's 40-year onshore and offshore concessions in 2017 and 2018.
Under the agreements, PetroChina has been granted a 10 percent stake in the Umm Shaif and Nasr concession, and a 10 percent stake in the Lower Zakum concession.
Both concessions will be operated by ADNOC Offshore on behalf of all concession partners.
