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Article: IOCs accept gas is the game in Mideast.
- Article from:
- Petroleum Intelligence Weekly
- Article date:
- January 29, 2007
CopyrightCOPYRIGHT 2007 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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In contrast to the hard line taken in some past negotiations, international oil companies pursuing the few upstream deals available in the Middle East seem to have accepted that gas is the only game in town and flexibility is the key to access. How else to explain the gilt-edged cast of contenders, including five US majors, now vying for a multi-billion dollar deal to develop technically difficult sour gas deposits in two fields in Abu Dhabi? The list of bidders drawn after initial solicitations of interest by Abu Dhabi National Oil Co. (Adnoc) includes Exxon Mobil, Chevron, ConocoPhillips, Occidental and Marathon from the US, European majors BP, Royal Dutch Shell, Total, ...