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The nail biting may soon be over for the international oil companies waiting to hear if they have succeeded in snagging a stake in Abu Dhabi’s onshore concession. UAE Energy Minister Suhail al-Mazru’i said this week that the fall in oil prices will not derail the process.
Nine companies, including legacy partners Total, BP and Shell and newcomers from Asia, the US and Europe are competing for a slice of the 1.6mn b/d Abu Dhabi Company for Onshore Operations (Adco).
The 35-year lease expired in January last year and the Abu Dhabi government has been taking its time assessing commercial and technical bids submitted by the qualifiers last October. (CONTINUED - 784 WORDS)
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