A second Chinese energy company has bought a stake in a giant, Middle East onshore oil concession in as many days.
CEFC China Energy will pay $900million for 4% of the concession, Abu Dhabi National Oil Co (ADNOC) said Monday, Reuters reported.
The deal is one of privately-owned CEFC’s biggest outside China.
The China National Petroleum Corporation (CNPC) bought 8% of the same asset for $1.8billion a day earlier.
The fields are estimated to contain 20-30 billion barrels of oil.