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Royal Dutch Shell and British Petroleum are in the final running to operate some of the biggest onshore oil fields in the UAE, The Telegraph has reported.Â
Suhail Al-Mazrouei, minister of energy for the UAE and a member of the Gulf state’s powerful Supreme Petroleum Council, said that the companies are under consideration, as the country looks to renew contracts to produce oil from onshore fields in Abu Dhabi.
Eleven international oil companies in total have bidded to be considered. If the Shell or BP wins in the bid, it would a major triumph for British business in Abu Dhabi, experts believe. The companies, however have been reported to have lost ground to Chinese rivals earlier on.Â
With decades of successfully operating high profile projects in the UAE, Shell and BP made agreements with ADCO to produce significant volumes of oil and gas in the region. However, these agreements expired this year, triggering a bidding war among international oil majors for the strategic oilfield assets.
“Shell and BP are amongst those companies that submitted bids,” Al Mazrouei said.
“We respect the long and historical relationship and investments they still have in the UAE. They have been legacy partners, and we hope they will have a chance and play a role in the future of the oil industry in Abu Dhabi.”
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