The state oil company in Abu Dhabi said it signed contracts with a Chinese counterpart to carry out the world’s largest surveys for new hydrocarbon reserves. The Abu Dhabi National Oil Co. awarded a subsidiary of China National Petroleum Co. with a $1.6 billion contract to conduct seismic surveys covering about 20,000 square miles onshore and offshore. ADNOC said that makes it the largest survey of its kind in the world. “The scale of the project shows ADNOC’s commitment to upstream investment and to bolstering our oil and gas reserves and production for the long-term,” ADNOC CEO Ahmed al-Jaber said in a statement . ADNOC in April opened its first bidding round to gain access to billions of barrels of oil and trillions of cubic feet in gas, after signing agreements with Asian energy companies, Italian major Eni and French supermajor Total. ADNOC estimates that, […]