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 16, 2017
UAE. Jeff Youssef, Partner at Oliver Wyman and co-author of "Leveraging the Private Sector to Improve Airport Infrastructure", comments on airport privatisation in the region.
date:Posted: August 16, 2017
INTERNATIONAL. 2017 Emerging Technologies Hype Cycle garners insight from more than 2,000 technologies.
date:Posted: August 15, 2017
UAE. Working Capital metrics have weakened each quarter since the oil price decline in fourth quarter 2014, leading to additional strain on liquidity, according to PwC's latest study
dhgate