BP signs $2.2bn Abu Dhabi oil deal

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Abu Dhabi - British oil giant BP secured a 10% share in an onshore oil concession in Abu Dhabi in a deal worth $2.2bn, the companies said.

BP signed an agreement with Abu Dhabi National Oil Company (ADNOC) to take a stake in the Abu Dhabi Company for Onshore Petroleum Operations (ADCO) which operates the 40-year concession.

"This agreement will provide BP with long-term access to significant and competitive resources that we already understand very well," BP chief executive Bob Dudley said in a statement.

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