DUBAI, Dec 17 (Reuters) - BP will take a 10 percentstake in Abu Dhabi's ADCO onshore oil concession for 40 yearsunder a deal signed on Saturday with Abu Dhabi's SupremePetroleum Council and the Abu Dhabi National Oil Company(ADNOC), the latter said.
Under the deal signed in Abu Dhabi, BP agreed to issue newordinary shares representing approximately 2 percent of itsissued share capital (excluding treasury shares) which are to beheld on behalf of the Abu Dhabi government, ADNOC said in astatement.
France's Total also holds a 10 percent stake whileJapan's INPEX Corporation has a 5 percent stake and GSEnergy of South Korea has a 3 percent stake, ADNOCsaid.
"ADNOC continues to look for partners to take up theremaining 12 percent stake of the 40 percent earmarked forforeign partners," the statement said.
(Reporting by Rania El Gamal, writing by Sami Aboudi; editingby Jason Neely)
BP (BP.)