US-based Occidental Petroleum Corp. will invest USD 500 million over the next three to four years to appraise and develop Jarn Yaphour and Ramhan oil and natural gas fields in Abu Dhabi. Occidental said it had signed a preliminary agreement with the Abu Dhabi National Oil Co. to appraise and develop the fields. Under the terms of the agreement, Occidental said it will operate both fields and hold a 100% interest in the newly created concessions.
