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OMV, Wintershall sign Abu Dhabi upstream agreement

OMV

Austrian energy group OMV has signed its first upstream joint venture in Abu Dhabi, agreeing to drill up to three appraisal wells for sour gas and condensate together with BASF's Wintershall in the Arab Emirate.

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June 21, 2012 5:18 by



Austrian energy group OMV has signed its first upstream joint venture in Abu Dhabi, agreeing to drill up to three appraisal wells for sour gas and condensate together with BASF’s Wintershall in the Arab Emirate.

OMV said in a statement on Thursday that Abu Dhabi National Oil Company (ADNOC) would participate in the development and production phase of the field in Shuwaihat, in western Abu Dhabi, should the appraisal be successful.

“The signing of our first upstream joint venture in Abu Dhabi underlines our exploration and production strategy in the Middle East and strengthens relations with the United Arab Emirates and ADNOC,” said OMV Chief Executive Gerhard Roiss.

(Reporting by Georgina Prodhan)



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