OMV solidifies ADNOC partnership

Abu Dhabi

VIENNA, March 21, 2016 – OMV signed an evaluation agreement with Abu Dhabi National Oil Company (ADNOC) and Occidental Petroleum on Sunday for offshore oil- and gasfields in the northwestern areas of Abu Dhabi’s territorial waters.

The agreement covers a four-year work programme that will see the partners carry out seismic campaigns, drilling projects and engineering work in the Ghasha and Hail areas offshore Abu Dhabi. The companies also aim to assess the volume potential of the undeveloped, so-called North-West Offshore fields.

Personnel seconded by OMV and Occidental will carry out evaluation activities and contribute technical expertise.

“We are pleased to expand our co-operation with ADNOC, together with Occidental, through the appraisal of a number of undeveloped fields which are of strategic importance to ADNOC,” OMV CEO Rainer Seele said of the agreement.

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