The Abu Dhabi National Oil Company (Adnoc) has awarded an 8% stake in the emirate’s onshore oilfield concession to state-owned China National Petroleum Corporation (CNPC) in a USD1.77bn deal. The 40-year onshore concession covers 15 oilfields, including the Bab, Asab and Bu Hasa, collectively responsible for more than half of the emirate’s production of 3.1 million barrels of oil per day. The Abu Dhabi Company for Onshore Petroleum Operations (Adco), in which Adnoc has a 60% stake, will be the concession operator. The Chinese company joins Adco partners France’s Total, BP, Inpex of Japan and South Korea’s GS Energy. (The National)