Andrew Vaughan
,Vice President – Abu Dhabi,Kuwait
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Earlier this year, Shell announced that it has pulled out of the $10bn Bab sour gas project in Abu Dhabi, although its operations in the region remain pretty strong. The Anglo-Dutch international oil company, headed in Abu Dhabi by Andrew Vaughan cited ‘technical challenges’ and the falling price of oil as key factors in its decision. Shell’s pullout is in line with the company’s drive to become leaner, after witnessing profits drop due to low oil prices and after having acquired BG Group at the global level recently. Shell won the contract to develop the sour gas field in 2013, with the multi-national holding a 40% stake and ADNOC the remaining 60%.
