The Abu Dhabi National Oil Company (ADNOC) has moved forward with assessment of bids for the renewal of the onshore concession after a thorough evaluation of technical proposals, which unsurprisingly has worked in favor of former legacy partners Shell, Total and BP. While the competing companies expect a decision before the end of the year, possibly during the ADIPEC oil and gas extravaganza in November, the contest with the Asian contenders is far from over.
“The due diligence is done and they now have permission to open the commercial [bids] and move on,” says one industry source in Abu Dhabi, referring to ADNOC. “They are aiming for the end of the year.” (CONTINUED - 705 WORDS)
