ABU DHABI: Abu Dhabi National Oil Co. (ADNOC) said Sunday it has awarded Spanish Cepsa firm a 20 percent share in a concession of two offshore oil fields in a deal worth $1.5 billion.

The 40-year deal aims to double production at the emirate’s offshore fields of SARB and Umm Lulu to 215,000 barrels per day, state-owned ADNOC said in a statement.

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