BP, ExxonMobil, Shell, Total in concessions race
In 2013, the historical international oil companies (IOCs) BP from UK, ExxonMobil from USA, Statoil from Norway, Partex from Portugal and Total from France have been racing to at least preserve and hopefully extend in 2014 their respective concessions rights in the onshore fields of Abu Dhabi shared in joint venture with the national Abu Dhabi National Oil Company (ADNOC) in the United Arabe Emirates (UAE).
Abu Dhabi is by far the oil and gas richest Emirate within the seven emirates community of the UAE.
With proven reserves of 98 billion barrels of crude oil and 214 trillion cubic feet (tcf) of natural gas, the UAE stand in the fifth position for the oil and forth position for the gas in the Middle East by proven reserves.
The quality of these reserves and the stability of the country, the second largest economy in the region, put its concession under the spot lights for all the oil and gas companies.
These 75 years onshore concessions will end up in January 2014, so that ADNOC is currently evaluating the bids submitted by the invited companies to take over the new concessions.
The new concessions will take affect on January 2015.
The bidders had the options to call for 5% or 10% share while ADNOC should retain at least 60%.
Therefore the expertise and technology will count on ADNOC decision, beyond the financial and political aspects.
ADCO evaluate offers for NEB-3 Onshore EPC contract
The United Arab Emirates (UAE) Abu Dhabi Company for Onshore Operations (ADCO) is currently evaluating the offers for the third phase of the North East Bab (NEB-3) project onshore Abu Dhabi.
IPIC qualified bidders for Fujairah Refinery Phase-1
The Abu Dhabi-based International Petroleum Investment Company (IPIC) is preparing the call for tender for the engineering, procurement and construction (EPC) contractof the Fujairah Refinery Phase-1 in the United Arab Emirates (UAE).
ADCO to invest $1 billion in Shahil, Qusahwira, Mender
Abu Dhabi Company for Onshore Oil Operations (ADCO) is activating the South East Full Field Development (FFD) project related to Asab Sahil, Qusahwira and Mender crude oil fields in the southeast of the United Arab Emirates (UAE).
Dana reached agreement with Sharjah Emirate on Zora
The Sharjah-based private company Dana Gas (Dana) managed to reach an agreement with the authorities of the Sharjah and Ajman Emirates in the United Arab Emirates (UAE) regarding the offshore development of the Zora gas field in the Sharjah Western Offshore concession.
In 2008, Dana was awarded by Sharjah Emirate a 25 years concession agreement to complete the exploration and develop a block of 1,000 square kilometers offshore the west coast of the Emirate.