Austria-based OMV has signed a contract with the Abu Dhabi National Oil Company (ADNOC) and US-based Occidental Petroleum to explore several undeveloped offshore oil and gas fields north-west of Abu Dhabi.

Under the four-year contract, the companies will carry out seismic, drilling and engineering work for fields, including the Ghasha and Hail areas.

OMV and Occidental’s seconded personnel and technical expertise will be responsible for evaluation activities.

The potential of the undeveloped offshore fields is planned to be increased through cooperation based on future development of the north-west area being explored.

"The companies will carry out seismic, drilling and engineering work for fields."

OMV said it aims to intensify its strategic partnership with ADNOC with the latest project.

The company will also increase its existing participation with the company to appraise the sour gas Shuwaihat field, as well as its East Abu Dhabi exploration activities.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

OMV CEO Rainer Seele said: "We are pleased to expand our cooperation with ADNOC, together with Occidental, through the appraisal of a number of undeveloped fields which are of strategic importance to ADNOC.

"This cooperation will further strengthen our already excellent partnership with ADNOC."

OMV has group sales of €23bn, and focuses on CEE (Romania, Austria), North Sea, as well as the Middle East, Africa, and selected development areas.

As at end 2015, the company had a refining capacity of 17.8 million tonnes per year in downstream and about 3,800 filling stations in 11 countries.