Qatar Petroleum Announces Abu Dhabi Oil Deal Despite Boycott


State-owned Qatar Petroleum announced Tuesday it has signed a deal with Abu Dhabi to operate the shared Al-Bunduq offshore oil field, despite a bitter diplomatic rift.

"We are delighted to sign this concession agreement, which will ensure the continued development and operation of the Al-Bunduq oil field for many years to come," Qatar Petroleum's president and CEO, Saad Sherida Al-Kaabi said in a statement.

The small oil field is located on the maritime border between Qatar and Abu Dhabi and is developed by a Japanese oil consortium.

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