Syrian Oil and Gaz News

UAE wants Shell as partner for Shah gas project – sources

The UAE would like Royal Dutch Shell to step in as its partner at the $10 billion Shah gas project after US major ConocoPhillips withdrew, industry sources in the UAE said on Wednesday.

 

 

Agreeing terms would be the biggest issue in coaxing Shell into taking on the project to produce sour gas in the UAE, the world’s third-largest oil exporter, sources said.

 

Shell lost out in the auction for the project in 2007-2008, after long being regarded as the frontrunner and spending substantial resources on preparing its bid.

 

“ADNOC approached Shell,” a UAE-based industry source said. “Shell might not take on the project as a pride issue because they were rejected before. But if there is a talk of money… I think there will be a compromise.”