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Sun 20 Mar 2016 02:34 PM

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OMV, ADNOC, Occidental to explore offshore Abu Dhabi oil, gas fields

Firms unite to sign 4-year deal as OMV focuses on UAE, Russia

OMV, ADNOC, Occidental to explore offshore Abu Dhabi oil, gas fields

OMV has signed a four-year programme to evaluate offshore oil and gas fields northwest of Abu Dhabi with the Abu Dhabi National Oil Company and U.S. firm Occidental Petroleum, the Austrian company said.

The fields the companies will analyse through seismic, drilling and engineering studies include the Ghasha and Hail areas with a view to appraising and developing them.

OMV is already working with ADNOC on the appraisal of the Shuwaihat field.

OMV under new Chief Executive Rainer Seele is increasingly looking towards Russia and the United Arab Emirates, the home of its second-biggest shareholder IPIC, for future output.

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