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Energy developer Inpex Corp. said Monday it has reached an agreement in principle with Abu Dhabi National Oil Co. (ADNOC) to extend the development of two oil fields off Abu Dhabi.

The development of the Satah and Umma Al Dalkh fields, which together produce about 35,000 barrels of oil per day, will be extended from March 8, 2018, to the end of 2042.

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