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OMV and Wintershall sign upstream agreement with the Abu Dhabi National Oil Company

  • OMV and Wintershall will appraise the sour gas and condensate field in Shuwaihat in the Western Region of Abu Dhabi
  • Shuwaihat field would be an important development of a gas and condensate field in the Western region of Abu Dhabi
  • OMV CEO Roiss: strengthening relations with the United Arab Emirates

The Abu Dhabi National Oil Company (ADNOC), OMV Abu Dhabi E&P GmbH (OMV) and Wintershall Middle East GmbH – Abu Dhabi (Wintershall) signed a Technical Evaluation Agreement to appraise the sour gas and condensate field in Shuwaihat, located some 25 km to the West of Ruwais in the Western Region of Abu Dhabi. The operator Wintershall will conduct the appraisal phase with OMV as an equal partner by drilling up to three appraisal wells and acquiring 3D-seismic over the field. In the case of a successful appraisal campaign, ADNOC will participate in the development and production phase of the Shuwaihat field.

OMV CEO 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 United Arab Emirates and ADNOC. The close partnership with the International Petroleum Investment Company (IPIC) is already a central element of our success, as illustrated by the shareholder relationship we have had for many years and our partnership in the petrochemicals industry.”

To optimize the appraisal and future development of the Shuwaihat sour gas and condensate field, Wintershall and OMV will employ advanced technologies of the highest standards. Both companies have a proven track record in Germany and Austria of more than forty years of safe development and production of sour gas (H2S and CO2) and oil fields. A successful appraisal campaign will result in Shuwaihat being an important development of a gas and condensate field in the Western region of Abu Dhabi, contributing to cover the increasing hydrocarbon demand of the UAE and the country’s long-term export capability.

Background information:
OMV Abu Dhabi E&P GmbH

OMV has opened an E&P office in Abu Dhabi in 2007. This office serves for screening business opportunities and the coordination of existing activities in the Middle East region. The close co-operation with International Petroleum Investment Company (IPIC), OMV's second largest shareholder, will support OMV's endeavors in the region. IPIC has been OMV's shareholder since 1994 and holds 24.9 % of OMV. The office will be the basis to further strengthen the relationship with the United Arab Emirates and to investigate and evaluate appropriate investment opportunities.

The Abu Dhabi office will focus on reviewing opportunities for strengthening OMV's E&P activities in the OMV E&P core region Middle East. In addition it could serve as a hub for procurement, drilling and operational support.

OMV Aktiengesellschaft
With Group sales of EUR 34.05 bn and a workforce of 29,800 employees in 2011, OMV Aktiengesellschaft is one of Austria’s largest listed industrial companies. In Exploration and Production, OMV is active in two core countries Romania and Austria and holds a balanced international portfolio. OMV had proven oil and gas reserves of approximately 1.13 bn boe as of year-end 2011 and a production of around 288,000 boe/d in 2011. In Refining and Marketing, OMV has an annual refining capacity of 22.3 mn t and as of the end of 2011 approximately 4,500 filling stations in 13 countries including Turkey. In Gas and Power, OMV sold approximately 272 TWh of gas in 2011. In Austria, OMV operates a 2,000 km long gas pipeline network with a marketed capacity of around 101 bcm in 2011. With a trading volume of around 40 bcm in 2011, OMV’s gas trading platform, the Central European Gas Hub, is amongst the most important hubs in Continental Europe. OMV further strengthened its position through the ownership of a 97% stake in Petrol Ofisi, Turkey’s leading company in the retail and commercial business.

Sustainability
OMV is a signatory to the UN Global Compact, and an active supporter to the values enshrined in its Code of Conduct. These include a strong sense of responsibility towards the social and natural environment, especially in economically weak regions. OMV continuously addresses economic, environmental and social issues related to its business in a responsible manner. The company reports on its activities in a sustainability report in accordance with the Global Reporting Initiative Guidelines.

Wintershall Middle East GmbH
Wintershall Middle East GmbH is a 100% affiliate of Wintershall Holding GmbH, based in Kassel, Germany. Wintershall Holding GmbH is a wholly-owned subsidiary of BASF SE. The company has been active in the exploration and production of crude oil and natural gas for over 80 years. Wintershall focuses on selected core regions, where the company has built up a high level of regional and technological expertise. These are Europe, North Africa, South America, as well as Russia and the Caspian Sea region. In addition, these operations are complemented by the company’s growing exploration activities in the Arabian Gulf. Today, the company employs more than 2,000 staff worldwide from 40 nations and is now Germany’s largest crude oil and natural gas producer. With the natural gas trading and transport subsidiaries it operates together with Russia’s Gazprom, the BASF subsidiary is also an important gas supplier on the German and European market.

Abu Dhabi National Oil Company (ADNOC)
ADNOC is a world leading oil and gas company wholly owned by the Government of the Emirate of Abu Dhabi.  ADNOC was established in 1971 to operate in all areas of the oil and gas industry and is currently comprised of 15 specialist subsidiary and joint venture companies that encompass a comprehensive range of upstream and downstream activities.  Operating in the UAE and around the world, the ADNOC Group produces over 2.7 million barrels of oil per day, with plans to increase production to over 3.5 million barrels per day over the next decade to help satisfy the ever-increasing global demand for oil and related products.

The ADNOC Group is committed to setting an example by always operating in a socially conscious and environmentally sustainable manner.  The ADNOC Group is also respected as regional leader in Health, Safety and Environmental issues and recognized for its focus on attracting, developing and retaining talented manpower with emphasis on UAE Nationals.