total chances good to renew uae oil concession
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Total chances good to renew UAE oil concession

Arab Today, arab today

Arab Today, arab today Total chances good to renew UAE oil concession

Abu Dhabi - AFP

Oil giant Total has a "good" chance to keep its operating share in Abu Dhabi's onshore oilfields as the Gulf emirate prepares new  concessions, France's international trade minister said Monday. Total has a 9.5 percent share in the 75-year-old concession which has come to an end on January 10, while the emirate is expected to select by 2015 the international bidders. "Total's chances are good," French International Trade Minister Nicole Bricq told AFP on the sideline of an energy conference in Abu Dhabi, the capital of the United Arab Emirates federation. "It is a loyal partner, which has heavily invested and is appreciated... I am hopeful. It must be treated as a great partner and I think it deserves it," she said. Total and four other international companies -- comprising Royal Dutch Shell, BP, Exxon Mobil and Partex Oil and Gas, held a 40 percent stake in the Abu Dhabi Company for Onshore Oil Operations(ADCO), since the concession was given in 1939. The government's Abu Dhabi National Oil Co held the remaining 60 percent. ADCO, which accounts for more than half of the emirate's oil production, will continue to operate the concession areas until ADNOC has processed bids by international companies for a new concession. Industry sources expect the process to be completed in 2015. The UAE, OPEC's fourth largest supplier, is one of the last few nations that have such agreements with international oil majors. UAE Energy Minister Suheil al-Mazrouei said in October that his country was on track to raise its crude oil production to 3.5 million barrels per day by 2017. Current output is estimated at around 2.9 million bpd. More than 90 percent of the estimated 100 billion barrels of UAE reserves are concentrated in Abu Dhabi, the largest emirate in the seven-member federation.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

total chances good to renew uae oil concession total chances good to renew uae oil concession

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

total chances good to renew uae oil concession total chances good to renew uae oil concession

 



GMT 23:51 2017 Thursday ,31 August

December22nd-January20th

GMT 08:37 2017 Monday ,23 January

Iraqi refugee volunteers brave chill

GMT 14:59 2017 Monday ,02 January

Ebola vaccine 'up to 100% effective'

GMT 17:10 2017 Thursday ,11 May

IS says it beheads Russian officer in Syria

GMT 13:24 2017 Saturday ,05 August

Muslim prayer hall in Corsica attacked

GMT 10:40 2017 Friday ,10 March

Dominican Republic hammers Canada in WBC opener

GMT 11:40 2017 Monday ,18 September

Russia and Iraq restore air travel

GMT 11:45 2017 Sunday ,12 February

4 things to support your heart health

GMT 01:20 2017 Monday ,11 September

Floods in Thailand's northeast kill 23

GMT 05:35 2017 Thursday ,12 October

Over 5,000 jobs will be created in GCC

GMT 10:08 2017 Saturday ,25 November

Zimbabwe court rules military takeover legal

GMT 21:38 2018 Friday ,14 September

Chaudhry Fawad condemns Pishin blast

GMT 17:36 2018 Thursday ,13 September

HRH Premier thanked by Moroccan PM

GMT 19:29 2018 Friday ,19 January

Cowardly attack on civilians in Iraq
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday