Most upstream oil and gas projects in Abu Dhabi are joint investments between two or more international oil companies (IOCs). We anticipate that new investment opportunities, such as those expected following the expiration of the existing onshore concession in 2014, will likely also be awarded to consortia. Therefore, IOCs and national oil companies (NOCs) seeking to approach the Abu Dhabi government may wish to do so jointly.
Why a Joint Bid?
As set out in the first edition of this newsletter series, we anticipate that prospective bidders for upstream oil and gas projects in Abu Dhabi will adopt an approach based on four core elements:
1. Technical expertise
2. Acceptance of challenging economic terms – very low margin, high volume
3. Ability to invest and access to financing
4. Commitment to, and relationship with, Abu Dhabi
Please see full alert below for more information.
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