Abu Dhabi National Oil Co (Adnoc) is almost finished reviewing technical aspects of international companies’ bids to develop the biggest onshore crude deposits in the emirate, Bloomberg has reported, citing two people with knowledge of the situation. Evaluating expansion plans and output targets proposed by 11 companies from the US, Europe and Asia seeking the concessions may take about two weeks more, said the people. “We have a process and that process is ongoing,” Abdulla Nasser Al Suwaidi, director general of ADNOC, said on the sidelines a company event when asked about progress in the bidding. “There is no timetable” for naming winners, he said.
Thursday, April 24- 2014 @ 10:08 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.