Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner.

UAE looks to offer energy companies new contracts

A mosque under a blue sky
Abu Dhabi

United Arab Emirates (UAE) Energy Minister Suhail Al Mazrouei said he hopes BP, Royal Dutch Shell Plc and Total SA have “a good chance to compete” for concessions in the nation’s biggest onshore deposits of crude oil.

The three companies, together with Exxon Mobil Corp and Portugal’s Partex Oil & Gas, were partners with Abu Dhabi, the UAE’s largest emirate, in a joint-venture agreement that expired in January.

The former shareholders, except for Partex, have been seeking deals to keep pumping oil in the Persian Gulf emirate and are among 11 bidders for new accords.

Al Mazrouei hopes government-run Abu Dhabi National Oil Co. will award new concessions “rather soon.”

He said he hopes Shell, BP and Total have a “good chance to compete with the new bidders and hopefully continue the long partnership history with Adnoc. We know that the process is fair to all and we are looking forward to the results of the bid round.”

Al Mazrouei didn’t mention Exxon and Partex wasn’t invited to bid for a new concession.

“We are looking for the best in term of capabilities and we wish them all good luck,” he said.

Abu Dhabi has pumped oil from its onshore fields under concession deals with Exxon, Shell, Total, BP and Partex – or their predecessors – since January 1939.

Adnoc became a partner in the 1970s, joining with the companies to form Abu Dhabi Co. for Onshore Oil Operations, or ADCO. That venture was responsible for extracting 1.5 million barrels a day of Murban grade crude, the U.A.E.’s main blend.

Adnoc picked BP, Exxon, Shell, Total and seven other companies to submit bids for the oil fields by this month. It is reviewing the offers before submitting recommendations to the Supreme Petroleum Council, Abu Dhabi’s top energy policy body, for a final decision on the new partners.

The UAE is the fourth-largest producer in the Organization of Petroleum Exporting Countries, pumping 2.85 million barrels a day of oil in September.

Abu Dhabi, the country’s capital, holds most of its crude reserves.

Recommended for you


More from Energy Voice

Latest Posts