BP excluded from early bidding for Abu Dhabi oil fields
Source: BI-ME with Reuters , Author: Posted by BI-ME staff
Posted: Fri July 6, 2012 11:19 am

UAE. BP Plc has been excluded from the pre-qualification bidding process to develop Abu Dhabi's largest onshore oil fields, the concession for which is set to expire in 2014, according to a report by the Petroleum Intelligence Weekly.

BP, which has been operating in the United Arab Emirates since 1931, did not receive a three-page letter inviting companies to submit applications to bid for acreage in Abu Dhabi that includes the Bu Hasa, Bab and Asab oil fields, part of the Abu Dhabi onshore Oil Operations (Adco) concession, the July 9 report said citing unnamed sources.

"It remains unclear why BP was not invited, the sources say, but the decision will almost certainly have been approved at the highest levels in Abu Dhabi," the report said. "Whatever the precise reason, it represents a humiliating snub for the UK major."

Oil majors Exxon Mobil Corp, Royal Dutch Shell Plc and Total SA were among companies invited to participate in the pre-qualification bidding round, the report said.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: August 20, 2014
UAE. Dubai has a bold vision to become the world's most visited city by 2020. The Director of Dubai's Tourism department, Helal Saeed Almarri, discusses how his team will make it happen.
date:Posted: August 19, 2014
INTERNATIONAL. Europe has been mired in an economic crisis for half a decade now. There have been constant predictions that Europe may finally be turning an economic corner, but if Germany's economy is contracting, it is difficult to believe that any corner is being turned.
date:Posted: August 19, 2014
UAE. Frost & Sullivan study finds the market earned revenues of US$549.3 million in 2013 and estimates US$818.5 million in 2018, at a CAGR of 8.3%. The study covers the Middle East market for industrial service of pumps, motors, compressors, automation, instrumentation and electric drives.
UAE. Frost & Sullivan study finds the market earned revenues of US$549.3 million in 2013 and estimates US$818.5 million in 2018, at a CAGR of 8.3%. The study covers the Middle East market for industrial service of pumps, motors, compressors, automation, instrumentation and electric drives.
dhgate