Mubasher TV
Contact Us Advertising   العربية

Shell, BP compete over Abu Dhabi oilfield contract

Shell, BP compete over Abu Dhabi oilfield contract
British Petroleum (BP) and Royal Dutch Shell in the final running for a fiercely fought-over deal to operate some of the biggest onshore oil fields in Abu Dhabi, reported The Telegraph, adding that this project could be a major win for British business in the region.

UAE Minister of Energy and a member of the Gulf state’s powerful Supreme Petroleum Council Suhail Al-Mazrouei told The Telegraph that both British oil majors remained under consideration for the renewal of expired contracts to produce oil from Abu Dhabi’s onshore fields.

Al-Mazrouei’s remarks come as a boost for both firms after it appeared they had lost ground to Chinese rivals, The Telegraph added.

Shell and BP are among the international oil companies that have been involved with onshore oil production in Abu Dhabi for decades through partnerships with the Abu Dhabi Company for Onshore Oil Operations, which has been responsible for pumping 1.5 million barrels of crude oil per day.

It is worth noting that Abu Dhabi controls the world’s sixth-largest petroleum reserves and around 11 international firms are believed to be competing for the rights for onshore oil fields in the emirate.