German energy firm OMV has struck an upstream exploration with the Abu Dhabi National Oil Company to explore the eastern region of the United Arab Emirates capital for new energy reserves.
ADNOC and OMV’s exploration arm in the UAE will conduct an exploration program for oil and gas in the Eastern region of Abu Dhabi over the next four years.
The program will consist of seismic acquisition and well drilling, following OMV’s involvement in the Shuwaihat field appraisal project last year, with the companies planning to jointly develop any discoveries.
“With this step OMV is on the way to foster its upstream position in the Middle East,” said OMV CEO Gerhard Roiss.
“Above this we are broadening the cooperation with Abu Dhabi beyond the field of petrochemicals.”