His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and the Austrian Federal Chancellor H.E. Christian Kern have recently witnessed the signing of a Memorandum of Understanding between Abu Dhabi National Oil Company (ADNOC) and OMV AG (OMV). The agreement explores 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.
The agreement 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 optimization, and downstream technical and maintenance support.
Speaking at the signing, 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 realize our ambitious goals.”