Eleven firms have been prequalified by Abu Dhabi’s state oil firm ADNOC for the new membership of the Abu Dhabi Company for Onshore Oil Operations (ADCO) consortium, whose current membership is set to be overhauled (MEES, 17 May).
Of those firms prequalified South Korean state firm, Korea National Oil Corporation (KNOC) has, by some distance, the least upstream experience. But Korean firms’ large and expanding role in major engineering contracts in the UAE and elsewhere in the Gulf boosts KNOC’s chances of success. (CONTINUED - 1160 WORDS)
