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		</div><p>Oil giant BP PLC has agreed to an onshore oil deal with Abu Dhabi worth $2.22 billion following years of negotiations.</p>
<p>The deal &#8211; signed on Saturday &#8211; involves BP creating new stock worth 2% of its market value to be held by the Abu Dhabi government as part of the deal.</p>
<p>It also grants BP a 10 per cent stake in Abu Dhabi&#8217;s ADCO onshore oil concession for 40 years.</p>
<p>Other foreign companies with stakes in the concession are France&#8217;s Total SA, Japan&#8217;s INPEX Corpotation and GS Energy of South Korea.</p>
<p>Oil-rich Abu Dhabi is the capital of the United Arab Emirates.</p>
<p>BP has been in Abu Dhabi since 1939. In 2014, its stake in the onshore concession expired, leading to years of negotiations.</p>
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