Source: Forexyard - Norwegian oil firm Statoil aims to bid for oil concessions in the United Arab Emirates due to expire in 2014 as it targets more business in the country's energy industry, a senior executive told Reuters.
"We're looking at gas and oil," said Kjetil Tonstad, regional vice president for the Middle East at the company, said on Sunday on the sidelines of an industry conference in Abu Dhabi, capital of the UAE.
"There will be a new relicensing, that's what we're told, in 2014 when the old licences expire so we're ready for that," Tonstad said. "We don't know the licencing strategy and I don't know whether they have decided on that but that's one target."
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