The decision is a setback to plans by majors such as Shell, BP and France’s Total, which had hoped for an earlier renewal of their participation in fields operated by Abu Dhabi Company for Onshore Oil Operations (Adco).
“Abu Dhabi authorities have said bids from foreign companies will be valid until the end of December,” a source said.
Total chief executive Christophe de Margerie said during the French giant’s capital markets day on Monday that Abu Dhabi had requested more time to evaluate the company’s proposals for renewing its participation in Adco.
The
