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OMV Buys Oilfield Shares in Abu Dhabi for USD 1.5 Bln
Listed oil corporation OMV is acquiring 20 percent of two offshore oil fields in Abu Dhabi from the Abu Dhabi oil group ADNOC. The purchase price for the concession and the associated infrastructure amounts to USD 1.5 billion. OMV has already a long relationship with Abu Dhabi. OMV opened a representation office in Abu Dhabi in 2007. Today Abu Dhabi is the location of the Business Hub for OMV´s Upstream Middle East & Africa activities.
Abu Dhabi (UAE): OMV announced that the contract with Abu Dhabi National Oil Company (ADNOC) is expected to be signed at the end of April / Picture: © Vindobona.org
OMV and ADNOC plan the signingfor the acquisition of a 20% interest by OMV in two offshore oilfields in Abu Dhabi by the end of April 2018
OMV and Abu Dhabi National Oil Company (ADNOC) agreed that OMV will acquire a 20 percent interest in the concession for the offshore oil fields Satah Al Razboot (with the satellite fields Bin Nasher and Al Bateel) and Umm Lulu as well as the…
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