BP, Shell in running for Emirati oil fields

Supermajors among close to a dozen other interested parties.
By Daniel J. Graeber Follow @dan_graeber Contact the Author   |   Sept. 29, 2014 at 5:49 AM
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LONDON, Sept. 29 (UPI) -- British energy company BP and Dutch supermajor Shell are in the running for oil prizes in the Persian Gulf region, the Emirati minister of energy said Monday.

Close to a dozen international energy companies are competing for the rights to tap in to onshore oil fields in the region. BP and Royal Dutch Shell have a decades-old partnership with the Abu Dhabi Co. for Onshore Oil Operations, already pumping 1.5 million barrels of oil per day.

Suhail al-Mazrouei, minister of energy for the United Arab Emirates, told The Telegraph both companies are in the top running for onshore licenses.

"Shell and BP are amongst those companies that submitted bids," he said in an interview published Monday. "They have been legacy partners, and we hope they will have a chance and play a role in the future of the oil industry in Abu Dhabi."

The Abu Dhabi National Energy Co., known also as TAQA, is a key investor in British waters, operating the pipeline delivering the global benchmark Brent crude oil.

The United Arab Emirates is among the top 10 in the world in terms of proved oil reserves with an estimated 97.8 billion barrels on hand.

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