Adnoc, Austria's OMV sign secondment agreement

Abu Dhabi - Scope of the agreement is the secondment of OMV technical expert staff into each other's companies.

Adnoc and OMV signed a joint collaboration and secondment agreement to establish a framework for mutual assistance in certain areas.
Scope of the agreement is the secondment of OMV technical expert staff into each other's companies.
The agreement is not related to specific projects and allows exchange of technical expert staff into any upstream projects of mutual interest.
The agreement follows OMV's successful cooperation with Adnoc in OMV's on-going exploration operations in East Abu Dhabi which started in 2013, as well as OMV's active engagement in Wintershall operated appraisal activities for the Shuwaihat sour gas field which started in 2012.
OMV's Executive Board Member for Upstream, Johann Pleininger says: "We are pleased to have the opportunity to support Adnoc under this agreement in upstream projects of strategic importance to Adnoc and as such to deepen our strategic partnership." OMV operates a gas pipeline network in Austria and gas storage facilities in Austria and Germany. In 2014, gas sales volumes amounted to 114 TWh. Abu Dhabi's International Petroleum Investment Corporation or IPIC holds 24.9 per cent shareholding in the company.
OMV's office in Abu Dhabi serves as an E&P subsidiary for the screening of new business opportunities, the management of existing activities in the UAE and fostering the relationship with the UAE and the Middle East region. The company is active in two projects, the Shuwaihat appraisal project with Wintershall as 50 per cent partner and operator as well as an exploration project in the Eastern Region of Abu Dhabi with OMV as operator and Adnoc as sole partner.
The Shuwaihat joint venture is appraising an important undeveloped sour gas field in the Western Region of Abu Dhabi with the aim to contribute to the domestic gas supply in the future, once the field is developed.
- haseeb@khaleejtimes.com

• Abu Dhabi