ADNOC, OMV, Occidental Sign Exploration Agreement in UAE
Abu Dhabi National Oil Company (ADNOC), OMV, and Occidental Petroleum have signed an agreement to conduct a four-year seismic, drilling and engineering work program for exploration, appraisal and potential field developments in Abu Dhabi.
The agreement covers several undeveloped oil and gas fields in North-West Offshore Abu Dhabi including the Ghasha and Hail areas. Under the contract, OMV and Occidental will contribute personnel and technical expertise for the project, which aims to form the basis for the future development of the North-West Offshore area.
Commenting on the agreement, OMV CEO Rainer Seele said in a company statement:
"We are pleased to expand our cooperation with ADNOC, together with Occidental, through the appraisal of a number of undeveloped fields which are of strategic importance to ADNOC. This cooperation will further strengthen our already excellent partnership with ADNOC."
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