Mohammed bin Zayed and Austrian Chancellor witness the signing of agreements to strengthen partnership, investment and cooperation between ADNOC, OMV, Borealis,

23-03-2019 Media in \Abu Dhabi
His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Sebastian Kortz, Counselor of the Republic of Austria, today witnessed the signing of framework agreements between ADNOC, OMV and Borealis. Strategic partnerships, investment and cooperation in energy and petrochemicals.
His Highness Sheikh Mohammed bin Zayed Al Nahyan stressed that the UAE is always keen to strengthen strategic partnerships with friendly countries, thus promoting the exchange of knowledge, expertise and advanced technology and closer cooperation and joint investments to ensure sustained economic and social growth.
The agreements were signed by His Excellency 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, Dr. Rainer Sealy, Chief Executive Officer of OMV, and Alfred Stern, CEO of Borealis.
According to the first agreement, ADNOC and OMV will jointly evaluate new opportunities to expand their existing partnerships in petrochemical projects and exchange knowledge and expertise in the development and integration of refining and petrochemicals. Of petrochemicals.
The second agreement provides for the cooperation of ADNOC and OMV in exploring the possibilities of using Reoil technology to recycle plastics at the Ruwais Complex, ADNOC’s largest refining and petrochemical complex in Al Dhafra, Abu Dhabi. Or “M” in the production of industrial oil fuel from the recycling of used plastic.
Under the third agreement, ADNOC and Borealis will explore potential growth opportunities in all areas of the polyolefins industry in key markets by building on the strengths and strengths of Bruges, Bem Adnoc and Borealis, The past 20 years to support customer growth in key markets by embracing innovative value enhancement solutions.
Dr. Sultan Bin Ahmed Al Jaber said: “In line with the directives of the wise leadership to strengthen the partnership and cooperation approach, these agreements strengthen our strategic partnership with OM. Which includes our business in all fields and stages of the oil and gas sector. This partnership enables us to benefit from the global expertise and advanced technology it possesses. ” Mother . “And contribute to enabling ADNOC to achieve additional value from Abu Dhabi’s crude oil production and to increase profitability and economic returns by leveraging the growth in global petrochemical demand as it seeks to accelerate the implementation of its integrated 2030 Smart Growth Strategy.”
“In line with ADNOC’s expansion plans in refining and petrochemicals by attracting and implementing investments that contribute to increasing the value and economic return of our existing resources and ensuring that our growing portfolio of products reaches the market more effectively, our strategic partnership with Borealis will contribute to creating more Growth opportunities for the benefit of both parties, ensuring ADNOC’s position and enhancing its ability to meet the growing demand for a diverse range of refined and petrochemical products of high value. “