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OMV and Wintershall sign upstream agreement
with the Abu Dhabi National Oil Company
OMV and Wintershall will appraise the sour gas and condensate field in Shuwaihat
in the
Western Region of Abu Dhabi + + + Shuwaihat field would be an important development of a gas and condensate field in the Western region of Abu Dhabi
OMV CEO Roiss: strengthening relations with the United Arab Emirates
21.06.2012 + + + The Abu Dhabi National Oil Company (ADNOC), OMV Abu Dhabi E&P GmbH (OMV) and Wintershall Middle East GmbH – Abu Dhabi (Wintershall) signed a Technical Evaluation Agreement to appraise the sour gas and condensate field in Shuwaihat, located some 25 km to the West of Ruwais in the Western Region of Abu Dhabi. The operator Wintershall will conduct the appraisal phase with OMV as an equal partner by drilling up to three appraisal wells and acquiring 3D-seismic over the field. In the case of a successful appraisal campaign, ADNOC will participate in the development and production phase of the Shuwaihat field.
OMV CEO Gerhard Roiss said: “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. The close partnership with the International Petroleum Investment Company (IPIC) is already a central element of our success, as illustrated by the shareholder relationship we have had for many years and our partnership in the petrochemicals industry.”
To optimize the appraisal and future development of the Shuwaihat sour gas and condensate field, Wintershall and OMV will employ advanced technologies of the highest standards. Both companies have a proven track record in Germany and Austria of more than forty years of safe development and production of sour gas (H2S and CO2) and oil fields. A successful appraisal campaign will result in Shuwaihat being an important development of a gas and condensate field in the Western region of Abu Dhabi, contributing to cover the increasing hydrocarbon demand of the UAE and the country’s long-term export capability.
OMV has opened an E&P office in Abu Dhabi in 2007. This office serves for screening business opportunities and the coordination of existing activities in the Middle East region. The close co-operation with International Petroleum Investment Company (IPIC), OMV's second largest shareholder, will support OMV's endeavors in the region. IPIC has been OMV's shareholder since 1994 and holds 24.9 % of OMV. The office will be the basis to further strengthen the relationship with the United Arab Emirates and to investigate and evaluate appropriate investment opportunities.
The Abu Dhabi office will focus on reviewing opportunities for strengthening OMV's E&P activities in the OMV E&P core region Middle East. In addition it could serve as a hub for procurement, drilling and operational support.
Source: OMV
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