EXCLUSIVE: BP chief confirms UAE licensing round negotiations

13 November 2018
Three upstream licensing rounds are currently underway in Abu Dhabi, Ras al-Khaimah and Sharjah

Global energy major BP is in discussions with state-owned energy companies in the UAE running upstream licensing rounds in their emirates, according to its CEO.

The emirates of Abu Dhabi, Ras al Khaimah and Sharjah are running licensing rounds to award oil and gas exploration and production blocks to international partners.

Adnoc, RAK Gas and Sharjah National Oil Company (SNOC) are managing the exercises on behalf of their respective governments, as the owner of the majority stakes in the blocks on offer.

“We are participating in the UAE licensing rounds. [We are] having conversations with the parties there,” BP’s CEO Bob Dudley answered in response to a question by MEED at ADIPEC in Abu Dhabi.

It is not clear if BP is in talks for acquiring potential stakes in all three emirates, or is just focusing on Abu Dhabi.

The three state energy firms have entered the decisive phase of their licensing rounds, as per the schedule they had made public at the launch of the exercises.

The firms, which are currently receiving bids for the acreages, will announce the winners of the bidding rounds in December or January next year.

MEED has previously reported that international oil companies have expressed interest in the three UAE licensing rounds:

https://www.meed.com/exclusive-iocs-express-interest-ras-al-khaimah-oil-gas-blocks/

https://www.meed.com/exclusive-internationals-express-interest-abu-dhabi-oil-gas-blocks/

https://www.meed.com/exclusive-good-response-explorers-sharjah-licensing-round/

More recently, Adnoc on 11 November awarded French energy major Total a 40 per cent stake in its unconventional gas concession in Abu Dhabi’s Ruwais Diyab area.

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