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OMV Signs Gas Field Evaluation Deal with Adnoc

Tuesday, Mar 22, 2016
OMV Signs Gas Field Evaluation Deal with Adnoc

The Abu Dhabi National Oil Company (Adnoc), Vienna-based oil and gas company OMV, and Occidental Petroleum from the US have signed an evaluation agreement for oil and gas fields North-West Offshore Abu Dhabi.

An agreement was reached for conducting a four-year seismic, drilling and engineering work program for exploration, appraisal and potential field developments in the Ghasha and Hail areas.

OMV and Occidental will also contribute with seconded personnel and technical expertise for the evaluation activities. The cooperation aims to firm up the volume potential of the undeveloped North-West Offshore fields, to form the basis for the future development of the North-West Offshore area.

With this project, OMV is intensifying its strategic partnership with Adnoc alongside its existing participation in the appraisal of the sour gas Shuwaihat field and its East Abu Dhabi exploration activities, said OMV CEO, Rainer Seele.

"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,” Seele added.

 

Source : tradearabia.com

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