Total SA (FP) will hold talks in Abu Dhabi about renewing oil production rights in the United Arab Emirates and developing natural gas fields, the company’s chief executive officer said.
The discussions will focus on concession rights in Abu Dhabi that expire next year and on the Bab sour-gas field, Christophe de Margerie said today in an interview in the U.A.E.’s capital and largest emirate. Total doesn’t expect to sign any agreements during his visit today to the Persian Gulf crude producer, he said.
Exxon Mobil Corp. (XOM), Royal Dutch Shell Plc (RDSA), BP Plc (BP/), and Partex Oil & Gas are shareholders with Paris-based Total in output from Abu Dhabi’s main onshore oil fields. Abu Dhabi, which holds most the U.A.E.’s oil, is due to shortlist companies to share in fields producing 1.4 million barrels a day. The U.A.E. is the sixth-biggest crude producer in OPEC, according to data compiled by Bloomberg.
Total to Hold Abu Dhabi Talks on Oil Rights, Bab Sour-Gas Field - Bloomberg
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