Abu Dhabi Seeking Bids for Largest Onshore Oil Fields Tomorrow - Bloomberg Business

Abu Dhabi Seeking Bids for Largest Onshore Oil Fields Tomorrow - Bloomberg Business:



"Abu Dhabi National Oil Co. is seeking final bids by tomorrow for concessions to the emirate’s largest onshore fields, said Abdullah Nasser Al Suwaidi, director general of the state-owned company.



The offers must match terms of the agreement Adnoc reached with Total SA, Al Suwaidi said at a conference in Dubai. Total is Adnoc’s first partner in a 40-year concession to fields in the biggest sheikhdom of the United Arab Emirates.



Al Suwaidi declined to say if any more bidders than Total have made final offers. The deadline is tomorrow “for those who haven’t submitted,” he said. Al Suwaidi declined to specify the terms of Adnoc’s agreement with Total, saying the fee the Paris-based company will earn for each barrel of oil it may produce is confidential."



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