The Abu Dhabi National Oil Company (ADNOC) announced signing three framework agreements with Korean companies during the official visit of Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces to Korea.

The agreements were signed with the Korea Gas Corporation (KOGAS), the Korea National Oil Company (KNOC), and GS Energy in the presence of UAE Minister of State and ADNOC CEO Sultan Ahmed Al Jaber; KOGAS CEO Kim Young Doo; KNOC CEO Yang Su Yeong, and GS Energy CEO Huh Yongsoo.

“As we successfully deliver our 2030 smart growth strategy, we will continue to work with partners who enable us to unlock and maximize value, contribute technology and help us secure access to the new centers of global demand,” Al Jaber said.

The agreements aim to explore upstream exploration and production (E&P) opportunities, potential downstream investments and bunkering opportunities for both crude oil and liquefied natural gas (LNG).