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Sun 7 Jan 2007 04:51 PM

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Adnoc seeks someone to gas with

The Abu Dhabi National Oil Company is seeking an international partner for a $10bn gas production facility.

The Abu Dhabi National Oil Company (Adnoc) is seeking an international partner for a AED36.7bn (USD10bn) gas production facility in the emirate.

Adnoc, which is state-owned, is looking for a foreign partner to take a 40% stake in the new plant, which will produce up to three billion cubic feet of gas from onshore Abu Dhabi gas fields every day, according to the Al Khaleej newspaper.

Demand for gas in the emirate is increasing by 20% a year, said the report. Abu Dhabi has half of the UAE's gas reserves.

Bids must be received by mid-April, and the report mentioned BP, Exxon Mobile, Occidental Petroleum Corporation, Chevron Corporation, Royal Dutch Shell and Total as possible contenders. Gas companies from Russia and Asia are also expected to bid.

The plant will produce 'acid' or 'sour' gas, which - because it contains toxins such as hydrogen sulphide - must be treated, or 'sweeted'. This makes the production process more expensive.

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