Abu Dhabi National Oil Company (ADNOC) and OMV AG (OMV) have signed a memorandum of understanding (MoU) to explore potential opportunities to work together to support ADNOC’s downstream businesses and the company’s smart growth strategy.
The agreement was signed by H.E. Dr Sultan Ahmed Al Jaber, UAE Minister of State and Group CEO of ADNOC, and Dr Rainer Seele, CEO of OMV.
It provides for cooperation in a number of areas, including the evaluation of opportunities in downstream projects; the exchange of knowledge and experience in refining operations and refinery-petrochemical integration and optimisation, as well as downstream technical and maintenance support.
H.E. Dr Al Jaber said: “This agreement provides the opportunity to work with OMV to identify areas for mutual collaboration that will contribute to our plans to maximise the value from our assets and operations. It will provide access to the in-depth knowledge and experience of OMV, in refining operations and petrochemicals, enhancing our own experience and skills, as we focus on delivering the company’s strategic objectives.
“ADNOC has a rich history of working with partners to unlock opportunities in both its upstream and downstream operations. Such partnerships will continue to be an important enabler and we see exciting opportunities ahead. We look forward to working with companies such as OMV to realise our ambitious goals.”
Rainer Seele added: “Together with ADNOC we have the opportunity to expand our cooperation across the entire value chain: from upstream to downstream, including petrochemicals. We will have a close exchange of expertise that will enable us to make our outstanding, long-term partnership with ADNOC even stronger.”
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/30052017/andoc-and-omv-sign-mou/