UAE's ADNOC & OMV ink collaboration pact for petrochemical projects

Abu Dhabi National Oil Company (ADNOC) and Austria’s OMV AG have signed an agreement exploring potential opportunities to work together to support ADNOC’s downstream businesses and the company’s smart growth strategy.

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 optimisation, and downstream technical and maintenance support. 

“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,” said Dr Sultan Ahmed Al Jaber, UAE Minister of State and Group CEO of ADNOC.