This is Abu Dhabi’s second competitive bidding round organised by ADNOC for the exploration, development and production of oil and gas.
DWF assisted the client in reviewing and advising on all concession agreements and documents provided by ADNOC in the bidding round, along with assisting the consortium partners to negotiate and agree the shareholders agreement and setting up of the entity in the ADGM, Pakistan International Oil Ltd. in Abu Dhabi, a company that is fully owned by the Pakistani consortium members: Pakistan Petroleum Ltd.; Oil and Gas Development Co. Ltd.; Mari Petroleum Ltd.; and Government Holdings (Private) Ltd. This is the first time that a foreign fully owned subsidiary has been licensed by the Abu Dhabi Global Market (ADGM) to conduct oil and gas activities in the UAE.
Read the latest issue of Oilfield Technology in full for free: Issue 3 2021
Oilfield Technology’s third issue of 2021 starts with a report from Wood Mackenzie focusing on the upstream industry’s fortunes in Asia-Pacific. The rest of the issue is dedicated to features covering offshore engineering, coiled tubing, frac technology, completion technologies, water management, well placement and much more.
Exclusive contributions come from Wild Well Control, Cudd Pressure Control, TMK, NOV, Archer, Tendeka, TETRA Technologies and more.
Read the article online at: https://www.oilfieldtechnology.com/exploration/01092021/adnoc-awards-pakistan-international-oil-ltd-offshore-concession/