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: April 27, 2015
UAE. Industry must focus on cyber security, integration and analytics to reduce extraction costs and plug systemic skills crisis; Strategy firm releases white paper on data driven oil fields.
date:Posted: April 27, 2015
SAUDI ARABIA. Since its accession to the WTO in 2005, the Saudi Arabia has embarked on a dual process of opening its markets to foreign companies and regulating its labour market to promote employment for nationals.
date:Posted: April 27, 2015
UAE. "The market downturn is attracting selective opportunistic investment," according to Jesse Downs, Managing Director of Phidar Advisory; Real estate firm releases latest end-quarter residential research note.
dhgate