Forget 3D imaging and horizontal drilling. Partex Oil and Gas, a Portuguese company vying to retain a stake in Abu Dhabi's biggest oil concession, has a more emotional selling point.
'We are not a major. We are not aiming at competing with ExxonMobil or Shell,' said Jose Pereira, the Middle East representative of Partex. 'Let me put it in a broader scope. The unique feature that characterises Partex is that the whole of our dividends, in a way, revert to mankind.'
The emirate's largest concession expires in 2014 after a 75-year run, and its five foreign shareholders - Partex, with 2 per cent, and BP, ExxonMobil, Royal Dutch Shell and Total, with 9.5 per cent each - are campaigning to keep their slice of the pie. At stake is 1.4 million barrels per day (bpd) of production capacity, half the UAE's total.
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