ADNOC: The agreement signed with OMV is in line with our strategy to increase revenues from oil and gas resources

MEDIA IN, Abu Dhabi, April 29, 2018 (WAM)
Dr. Sultan bin Ahmed Al Jaber, Minister of State and Chief Executive Officer of Abu Dhabi National Oil Company (ADNOC) and its group of companies said that the strategic agreement signed with Austrian company OMV, along with the other seven agreements we have recently concluded in marine rights, ADNOC is committed to maximizing the value of Abu Dhabi’s hydrocarbon resources, with additional value to the UAE.
He said that the agreement is in line with ADNOC’s strategy to increase revenues from oil and gas resources, expand and develop its business in the field of gas, refining and petrochemicals and contribute to strengthening and diversifying the country’s economy.
“OMV is seeking to strengthen its position as an oil producer in the UAE by continuing to work and build on our partnership with ADNOC and Abu Dhabi,” said Dr. Rainer Sealy, Chief Executive Officer of OMV. Is an important step towards our 2025 strategy as we continue to expand our presence and expand our business into a leading global hub in the sector.
The Abu Dhabi National Oil Company (ADNOC) signed a concession agreement in the offshore fields with Austrian oil and gas company OMV, which is partially owned by Mubadala Investment Company. The latter holds a 20%