BP and Shell have confirmed that they are both in the running to renew contracts for major oil deals in the Persian Gulf.
Both companies have been operating in the region for decades in connection with the Abu Dhabi Company for Onshore Oil Operations (ADNOC). However their 75-year old onshore oil field concession agreements expired in January this year. The other firms previously involved with the same concession were Exxon Mobil Corp, Partex Oil & Gas and Total.
A spokeswoman for Shell said the company “is keen to continue its long cooperation and partnership with Abu Dhabi and the ADNOC Group of companies”.
ADNOC was unavailable for comment.