Abu Dhabi National Oil Company (ADNOC), OMV and Wintershall have signed a technical evaluation agreement to appraise the sour gas and condensate field in Shuwaihat, Abu Dhabi
The appraisal phase will be conducted through an equal partnership between the operator Wintershall and OMV by drilling up to three appraisal wells and acquiring 3D seismic over the region.
In the event of a successful appraisal, ADNOC will participate in the development and production phases of the Shuwaihat field, situated in the west of Abu Dhabi emirate.
OMV chief executive officer 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 UAE and ADNOC."
Wintershall and OMV will employ advanced technologies to ensure successful appraisal and future development of the Shuwaihat sour gas and condensate field.
A successful appraisal campaign will result in Shuwaihat being an important gas and condensate field in Abu Dhabi, contributing to cover the increasing hydrocarbon demand of the UAE.
Wintershall Holding GmbH, based in Kassel, Germany, has been active in the exploration and production of crude oil and natural gas for more than 80 years.
Rainer Seele, chairman of the board of executive directors of Wintershall, said, “This venture is an important step on the path towards long-term cooperation in the energy sector between Germany and Abu Dhabi."
OMV is one of Austria’s largest listed industrial companies.
