While diversifying its operations in international markets, the company has entered into collaborative agreements with local players to reduce competition. ConocoPhillips (COP) has signed an interim agreement with Abu Dhabi National Oil Co. to develop the Shah Gas Field in Abu Dhabi, Thomson Financial reported. Under the terms of the agreement, the companies will share the cost of engineering and design and project mobilization for the field’s development. Abu Dhabi National Oil will have a 60% interest and ConocoPhillips will have a 40% interest in the project.