Following two major moves in Abu Dhabi, BP is more hopeful it will continue to keep its 9.5% stake in Abu Dhabi’s 1.4 mn b/d Abu Dhabi Company for Onshore Oil Operations (ADCO) consortium whose concession to run the emirate’s major onshore oil fields expires on 11 January 2014.
UK Prime Minister David Cameron visited the UAE in early November to meet UAE President Shaikh Khalifa bin Zayid al-Nahyan and Crown Prince Shaikh Muhammad bin Zayid al-Nahyan – the two key members of the Supreme Petroleum Council (SPC) – spear-heading a strong drive by London to promote UK businesses, including BP. He had a series of good meetings and BP is now expected to prequalify, a source familiar with the talks tells MEES. Another source says BP has already been invited. However, Abu Dhabi has a history of surprises, unexpected turns and lack of clarity in awarding concessions. (CONTINUED - 1511 WORDS)