Big Oil bids for UAE gas project
At least five international energy companies submitted bids on Sunday for a giant sour gas project in the United Arab Emirates that could be have a price tag as high as $10 billion.
The project is one of the largest open to oil and gas companies competing for limited access to the Middle East's energy reserves. Saudi Arabia keeps the world's biggest oil reserves closed to international firms, while gas exporter Qatar has a moratorium on new projects.
"This is the largest gas development in the region in terms of gross production," said Colin Lothian, senior analyst for the Middle East at global consultancy Wood Mackenzie.
The project is one of the largest open to oil and gas companies competing for limited access to the Middle East's energy reserves. Saudi Arabia keeps the world's biggest oil reserves closed to international firms, while gas exporter Qatar has a moratorium on new projects.
"This is the largest gas development in the region in terms of gross production," said Colin Lothian, senior analyst for the Middle East at global consultancy Wood Mackenzie.
posted by Stock Administrator @ 2:50 PM
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