Norwegian firm eyes bid for UAE oil and gas concessions

01 November 2010

Statoil will bid for concessions that expire in 2014

Kjetil Tonstad, regional vice president for the Middle East at Norwegian oil firm Statoil, has said the firm aims to bid for oil concessions in the UAE due to expire in 2014, as it targets more business in the country’s energy industry, Reuters has reported. “There will be a new relicensing, that’s what we’re told, in 2014 when the old licences expire so we’re ready for that,” Tonstad said on the sidelines of an industry conference in Abu Dhabi. “We don’t know the licensing strategy and I don’t know whether they have decided on that but that’s one target.”

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