Abu Dhabi Onshore Concession: No Plan To Exclude IOCs

Abu Dhabi is aiming for a swift decision on the makeup of a new consortium to develop its onshore oil fields following January’s expiry of the ADCO concession.

UAE Energy Minister Suhail al-Mazru’i tells MEES that the new partnership, expected in January 2015, will not be delayed and says there are no plans to do away with foreign oil companies and allow state-run ADNOC to manage the fields without outside help.

The Abu Dhabi Company for Onshore Operations (ADCO) took over full operatorship of the 1.6mn b/d onshore fields at the start of the year after the end of the decades-old concession agreement with the so-called legacy partners BP, Shell, ExxonMobil, Total and Partex at the start of the year. All but the Portuguese independent qualified to bid for a new, 40-year concession alongside seven other oil companies mainly from Asia (see table).


DON'T HAVE AN ACCOUNT?


NEED TO UPGRADE YOUR CURRENT SUBSCRIPTION?

By upgrading your Print or Digital subscription you will gain access to the MEES Archives Database with past articles and data dating back from 1984.

UPGRADE