From the Field

Abu Dhabi bid round attracts 39 companies

LONDON, October 11, 2018 – Abu Dhabi’s oil and gas exploration licensing round has attracted bids from 39 companies, the head of Abu Dhabi National Oil Company (ADNOC) said on Wednesday.

 

Speaking at the Oil & Money conference in London, ADNOC CEO Sultan Ahmed Al Jaber said the results of the bid round would “hopefully” be announced by the end of the year.

Launched in April, the licensing round – Abu Dhabi’s first – covers four onshore blocks and two offshore blocks. Bidding is set to close by the end of October.

Al Jaber also said Abu Dhabi is on track to reach its goal of boosting oil production to 3.5 million bopd by end-2018.