By OGJ editors
HOUSTON, Mar. 10 -- Occidental Petroleum Corp. plans to consider making joint investments with the UAE-based International Petroleum Investment Co. (IPIC).
The two companies signed a joint investment agreement calling for them to evaluate and develop upstream and downstream projects within and outside the Middle East.
It's up to the discretion of each company whether to participate in a proposed project. The Abu Dhabi government owns IPIC.
Ray Irani, Oxy chairman and chief executive officer, called the joint investment agreement "a natural extension of our existing strategic partnership with Abu Dhabi."
Oxy is a stakeholder in the Dolphin gas project in Qatar and the UAE.