Deal may close in fourth quarter

The transaction, approved by the companies’ boards, is expected to close in this quarter, subject to customary closing conditions including appropriate regulatory approvals. BHGE employs more than 1,000 employees in the UAE and supports customers with products and services spanning the entire oil & gas value chain.

Adnoc is also expanding its downstream business, unveiling plans earlier this year to upgrade the entire Ruwais refining and petrochemicals complex with an investment of $45 billion (Dh165 billion) to substantially increase the company’s capabilities and produce greater volumes of higher-value petrochemicals and derivative products.