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Contract expiries: 13 billion barrels up for grabs in the Middle East

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Report summary

On 19 February the ADCO concession renewal in Abu Dhabi was finalised with awards to China's CNPC (8%) and China Energy Company Limited (CEFC 4%). The concession which is the largest producer in the Middle East with foreign participation initially expired in 2014. Now that ADCO has been fully awarded where will companies be looking next for discovered resource opportunities? The next big contract on offer will be Abu Dhabi's offshore ADMA concession currently producing over 650 000 b/d. Looking into the next decade some of Qatar's LNG production sharing contracts will expire starting with Qatargas 1 in 2021. Which companies governments in the Middle East choose to partner with to develop their resources will depend on their strategic priorities. Securing export markets especially to Asia will be a priority we have already seen this shift East in the ADCO awards.

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  • Contract expiries: 13 billion barrels up for grabs in the Middle East: Image 1
  • ADCO participants, 1939-2014
  • ADCO participants, 2015-2055
  • Contract expiries: 13 billion barrels up for grabs in the Middle East: Image 4

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