Text size:

  • Small
  • Normal
  • Large

Total will stick with bid on Bab gasfields

The French company Total will not adjust its bid to develop Abu Dhabi's Bab sour gas field unless asked by the emirate.

The French company Total will not adjust its bid to develop Abu Dhabi's Bab sour gasfield unless asked by the emirate, said the company's chief executive.

Abu Dhabi is due to select a foreign partner within weeks and competitor Royal Dutch Shell is "in good standing", Abdulla Nasser Al Suwaidi, the director general of Abu Dhabi National Oil Company (Adnoc), said in Abu Dhabi on Monday..

Shell and Total were the only companies asked by Adnoc to prepare formal bids to develop the sulphur-laced gas at Bab, one of the emirate's oldest fields.

"I am transparent," Christophe de Margerie, Total's chief executive, said in Paris. "A bidding process is a bidding process. Until you are asked to make a rebid, you don't do it."

The Supreme Petroleum Council, which includes members of the ruling family and trusted advisers, will make the decision on Bab. For two previous sour gas tenders it has gone against Adnoc's recommendation.

Total has been the most vocal company seeking to develop the Bab field during the many years that Abu Dhabi has tendered it.

Bab was originally included in a tender to develop the Shah sour gasfield, which has similar technical challenges, but Adnoc split the tender to make the projects more attractive to bidders.

Bab is expected to yield between 500 and 800 cubic feet per day, with 50 per cent of that carbon dioxide and 15 per cent of it hydrogen sulphide, which can be deadly in high quantities. With Bab located at the nexus of core infrastructure and population at Habshan, the project is highly complex.

"You know in life you cannot always win," Mr de Margerie said. "What's important is to compete and to compete in offering the best of what you have. That's a promise I've made to the highest authorities in the emirates and in Abu Dhabi, they know it.

"And they know that when we make an offer, it's a real one. Now afterwards we might have a different perception on cost, and if that's the case, I mean good for them, good for Abu Dhabi."



Back to the top

More articles

Editor's Picks

 The Greens, villas: Q1 no change. 3BR - Dh210-250,000. 4BR - Dh210-260,000. 5BR - Dh220-300,000. Q1 2013-Q1 2014 5% rise. Pawan Singh / The National

In pictures: Where Dubai rents have risen and fallen, Q1 2014

Find out how rental prices in the prime locations in Dubai have altered during the first three months of the year and the current rates you will pay according to data provided by Asteco.

 Above, the private pool of Ocean Heights' five-bedroom penthouse flat. Courtesy Christie’s International Real Estate

In pictures: Penthouse flat is height of Dubai luxury living

A five-bedroom penthouse in Ocean Heights in Dubai Marina is on sale for Dh25 million and comes with a private pool and an unparalleled view of Dubai.

 The cooling towers of the Temelin nuclear power plant near the Tyn nad Vltavou in Czech Republic. The country wants to continue expanding nuclear energy capacity despite cancelling a tender to build two new units. David W Cerny / Reuters

In pictures: Best business images for the week to April 17, 2014

Here are some of the best business images for the week to April 17, 2014.

 Three generations of the Hakimi family tend to their stall Crawford Market in Mumbai. Subhash Sharma for The National

In pictures: Shopper’s delight at Crawford Market in Mumbai

Crawford Market is an old British-style covered market dealing in just about every kind of fresh food and domestic animal imaginable. Later on renamed Mahatma Jotirao Phule, the market remains popular among locals and visitors by its old name, taken from Arthur Crawford who was the first municipal commissioner of the city.

 The Wind, Energy, Technology and Environment Exhibition takes place from April 14 to April 16. Above, the Dewa showroom during last year’s Wetex. Jaime Puebla / The National

April corporate and economic calendar for the UAE and overseas

From Cityscape to Wetex to stock-market holidays to nations reporting first-quarter GDP figures, here is our helpful calendar of April's business events in the UAE and internationally.

 Get the latest information on credit cards, bank accounts and loan products in the UAE. Mark Lennihan / AP Photo

Rates report: Latest on UAE loans, accounts and credit cards

Souqamal.com brings you the latest interest rates on banking products in the UAE.


To add your event to The National listings, click here

Get the most from The National