United Arab Emirates-owned Abu Dhabi National Oil Company has signed a deal with China National Petroleum Corporation to collaborate in upstream projects in undeveloped areas.
CNPC will conduct technical and economic studies in order to assess areas put forward for development by the UAE’s Supreme Petroleum Council, and will forward those studies to ADNOC, state-owned wire service WAM reported.
The agreement, signed between SPC secretary-general Joan Salem Al Dhahiri and CNPC president Jian Jiemin, also aims at co-operating in areas of petrochemical development, technical services, engineering and construction services.
The announcement came as the two nations signed a memorandum of understanding to work together for the development and advancement of sustainable energy, WAM reported.
Source: Upstream Online