OMV Receives Political Support for €1.3 Billion Purchase of Two UAE Oil Fields

CompaniesOther ♦ Published: May 4, 2018; 12:00 ♦ (Vindobona)

An economic delegation led by Federal Chancellor Sebastian Kurz, with the participation of Margarete Schramböck, Minister of Economic Affairs, OMV CEO Rainer Seele and a small delegation had the main objective of supporting OMV in the concession agreement for the acquisition of a 20% stake in two fields offshore Abu Dhabi from ADNOC.

Kurz with Crown Prince Mohammed bin Zayed Al Nahyan / Picture: © Bundeskanzleramt (BKA) / Dragan Tatic

Kurz also used the trip for a discussion on political and geostrategic issues with Crown Prince Sheikh Mohammed bin Zayed al-Nahyan. "The United Arab Emirates is an important strategic partner in the Gulf region. They are in charge of the fight against terrorism and radicalism," explained the Chancellor after the meeting, which was also about the fight against the IS.