Austria’s OMV announced on 24 June that it had signed a four-year exploration agreement with state-owned Abu Dhabi National Oil Company (ADNOC), to jointly pursue oil and gas in the eastern section of the emirate. The two will begin with seismic surveys and will potentially drill exploration wells if the seismic data suggest high prospectivity.
The agreement comes as a supplement to OMV’s existing concession with ADNOC and Germany’s Wintershall for exploration of the Shuweihat sour gas field and would give OMV access, for the first time, to potential Abu Dhabi crude volumes. (CONTINUED - 298 WORDS)
