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OMV, Oxy sign technical evaluation agreement with ADNOC

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ABU DHABI — The Abu Dhabi National Oil Company (ADNOC), OMV, and Occidental Petroleum have signed a contract covering several undeveloped oil and gas fields offshore Abu Dhabi, including the Ghasha and Hail areas.

An agreement was reached for conducting a four-year seismic, drilling and engineering work program for exploration, appraisal and potential field developments. 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 country’s 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.

“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,” OMV CEO Rainer Seele said.

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