UAE denies reports of concession awarded to Qatar Petroleum

The small oil field is located on the maritime border between Qatar and Abu Dhabi. (Shutterstock)

An official source at the UAE's Supreme Petroleum Council has said that no concession was awarded to Qatar Petroleum, denying earlier reports from Qatari sources.

In a statement reported by the official WAM news agency, the source said: "The Bunduq field, due to its geographical location, is shared between the Emirate of Abu Dhabi and Qatar. It has been operated via a concession with a Japanese consortium for over four decades. This concession was recently extended by each respective government to the Japanese consortium with no direct communication or engagement between the two states."

"There is no commercial or trading relationship being established between the UAE and Qatar by the extension of this concession," he added.

Last Update: Tuesday, 13 March 2018 KSA 12:36 - GMT 09:36

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UAE denies reports of concession awarded to Qatar Petroleum
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