The Abu Dhabi National Oil Company (ADNOC) and Russia’s Gazprom Neft have entered into a strategic cooperation agreement for upstream and downstream sectors, according to Pipeline Oil and Gas Magazine.
The agreement was inked by Vladislav Baryshnikov, Deputy CEO, International Business Development, and a member of the Management Board, Gazprom Neft, and Abdulmunim Saif Al Kindy, Executive Director, Upstream Directorate, ADNOC.
“This comprehensive framework agreement with Gazprom Neft is a natural development in the deep and close bilateral relations between the UAE and Russia. It provides a basis for strengthening and expanding strategic relations between our two countries in the energy sector,” Al Kindy said.
Under this agreement, both ADNOC and Gazprom will discuss collaboration opportunities in sour-gas exploration and production (E&P), developing oil and gas recovery strategies, improving innovating technologies, as well as implementing joint projects in the upstream and downstream sectors.
“[The signing of this agreement] creates a platform for cooperation in science and technology, as well as in hydrocarbon exploration, production, processing, and sales,” Baryshnikov noted.