Adnoc Review 2016

Adnoc, OMV sign deal

Adnoc and OMV have signed a joint collaboration and secondment agreement to establish a framework for mutual assistance in certain areas.

The agreement is not related to specific projects and allows exchange of technical expert staff into any upstream projects of mutual interest.

The agreement follows OMV’s successful cooperation with Adnoc in OMV’s on-going exploration operations in East Abu Dhabi which started in 2013, as well as OMV’s active engagement in Wintershall operated appraisal activities for the Shuwaihat sour gas field which started in 2012.

OMV’s Executive Board Member for Upstream, Johann Pleininger says: "We are pleased to have the opportunity to support Adnoc under this agreement in upstream projects of strategic importance to Adnoc and as such to deepen our strategic partnership." OMV operates a gas pipeline network in Austria and gas storage facilities in Austria and Germany. In 2014, gas sales volumes amounted to 114 TWh. Abu Dhabi’s International Petroleum Investment Corporation or IPIC holds 24.9 per cent shareholding in the company.

OMV’s office in Abu Dhabi serves as an E&P subsidiary for the screening of new business opportunities, the management of existing activities in the UAE and fostering the relationship with the UAE and the Middle East region. The company is active in the Shuwaihat appraisal project with Wintershall.

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