Anglo-Dutch oil and gas giant Royal Dutch Shell has won a US$10bn, 30-year deal to develop Abu Dhabi National Oil Companys (ADNOC) Bab sour gas field, after overcoming a rival bid from France’s Total
ADNOC will own 60 per cent of the Bab joint venture and Shell will own the remaining 40 per cent. The two companies will now will develop the field with the latest sour gas treatment technology.
British Prime Minister David Cameron remarked, “The deal, the largest secured by a British company in the UAE in recent years, is a fantastic outcome for Shell and highlights the UK’s world class energy sector.”
The 30-year venture will also put Shell in a strong position to renew its contract in the UAE’s largest onshore oil concession, on which the Bab field stands, when it comes up for renewal early in 2014.
