The two firms this week signed a Memorandum of Understanding (MoU), pledging to cooperate on developing small gas fields domestically, LNG imports, and development of unconventional oil and gas extraction technologies.
“At the highest level, it [was the result of] an observation that we have a growing company with international experience [Mubadala], and a very experienced and capable national oil company [ADNOC]. It could be seen as natural to come together and cooperate more than in the past in a number of areas,” said Steven Peacock, Chief Operating Officer at Mubadala Petroleum, the investor’s energy subsidiary. (CONTINUED - 917 WORDS)
