Abu Dhabi National Oil Co. and OMV East Abu Dhabi Exploration GMBH will explore for hydrocarbons onshore in eastern Abu Dhabi opposite northern Oman.
The 4-year pact, signed June 23, calls for seismic acquisition and the drilling of exploratory wells. If the campaign is successful, the two companies will jointly develop the potential discoveries in accordance with Abu Dhabi laws.
OMV said the undertaking is a strategic supplement to its participation in the Shuwaihat field appraisal project signed in 2012. Together, the projects should provide a shorter and longer term contribution to Abu Dhabi’s plan to increase production and reserves, OMV added.
Discovery and development of oil and gas-condensate fields in Abu Dhabi’s eastern region would “help to cover the increasing energy demand of the United Arab Emirates and the country’s long-term export capability,” OMV said.