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ADNOC seeking bids for concession
- United Arab Emirates: Saturday, March 09 - 2013 at 05:46
Abu Dhabi National Oil Co (Adnoc) has invited several international oil firms, in addition to existing partners, to bid for the renewal of a shared licence to operate some of the emirate's largest onshore oil fields, Zawya Dow Jones has reported, citing two people familiar with the matter. US-based firms Chevron Corp and Occidental Petroleum Corp, China National Petroleum Corp (CNPC), Japan's Inpex Corp, Korea National Oil Corp (KNOC), Norway's Statoil and Russia's Rosneft were among the new companies invited, the people said. The 75-year-old concession, which expires at the end of the year, produces more than half the UAE crude production of 2.6 million barrels a day and is one of the few major oil-producing areas in the Gulf where international companies hold a stake.
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