ExxonMobil Selected by United Arab Emirates to Enter Final Negotiations on Upper Zakum Field Participation
Posted: 11 April 2005
Exxon Mobil has confirmed that it has been chosen by the Abu Dhabi Supreme Petroleum Council (SPC) for final negotiations regarding participation in the Upper Zakum offshore oilfield. In a statement issued by the SPC, ExxonMobil was said to have been chosen based on submission of the best technical offer.
"ExxonMobil is deeply honored to have been selected as the sole company to enter final negotiations to become a strategic partner in the Upper Zakum field," said Tim Cejka, president of ExxonMobil Exploration Company. "We are committed to applying ExxonMobil's broad range of industry-leading technologies and operating capabilities to assist Abu Dhabi in obtaining maximum recovery and value from this important national resource. In addition, we look forward to cooperating closely with ADNOC in the areas of training and skill development."
Upper Zakum is one of the world's largest oil fields, contributing significantly to Abu Dhabi 's current production, and with potential for substantial growth. Successful conclusion of final negotiations will allow ExxonMobil to obtain a 28 percent equity interest in the Upper Zakum oil field. ExxonMobil has participated in Abu Dhabi 's petroleum business for more than sixty years.
 Posted by Editor Pipeline Magazine
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