Abu Dhabi: Adnoc looks to extend Adco concession


Issue 942 - 07 Mar 2013 | 1 minute read

The Abu Dhabi National Oil Company (Adnoc) is seeking to extend the massive Abu Dhabi Company for Onshore Oil Operations (Adco) concession by a year to January 2015, to give it more time to get its terms in order for bidders. Adnoc’s recommendation is with the Supreme Petroleum Council, which will make the final decision. Industry press have been speculating on the reasons for the delay. One suggestion is that ongoing negotiations with ExxonMobil over a separate offshore concession, the Upper Zakum field, may be a factor, with Adnoc wishing to see what terms Exxon secures before putting Adco to tender.

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