ADNOC, Russian agency to mull joint work

Abu Dhabi National Oil Co. has entered a strategic framework agreement to explore collaboration opportunities across the oil and gas value chain with the Russian Energy Agency, a governmental budgetary organization.

The agreement covers exploration and production concessions in Abu Dhabi.

ADNOC and REA also agreed to explore collaboration in refining and petrochemicals in the emirate and elsewhere; marketing, sales, and trading; LNG; and technical and operational support in artificial intelligence and other advanced technologies.

The agreement emerged during a state visit by Russian President Vladimir Putin to meet with Abu Dhabi Crown Prince Muhammed bin Zayed Al Nahyan.

Also as a result of Putin’s visit, Lukoil signed an agreement with ADNOC to acquire a 5% interest in the Ghasha Concession, where ADNOC and partners are developing nine shallow-water oil and gas fields (OGJ Online, Oct. 15, 2019).