Total is exploring the possibility of downstream ventures in the UAE and abroad with the Abu Dhabi National Oil Company (ADNOC), The National reported.

“They [ADNOC] are willing to expand in the downstream, and we are having discussions to see what we can achieve. It has to be a win-win for all companies,” Total CEO, Patrick Pouyanne, announced in an interview with The National.

“The new ambition of ADNOC is to be more on the integrated model and we will study this, not only in Abu Dhabi, but abroad as well,” Pouyanne continued.

ADNOC plans to spend up to $109 billion over the next five years on projects that include expanding their petrochemicals ventures in the UAE and abroad.  ADNOC aims at doubling its refining enterprises and tripling its petrochemical capabilities respectively by 2025. The Abu Dhabi state oil firm is set to announce its downstream strategy soon.

Total recently won a deal with ADNOC for two stakes worth a total of $1.45 billion. The French company now holds 20% of the Umm Shaif and Nasr concession and 5% of the Lower Zakum concession, together worth an approximate $1.45 billion, according to an ADNOC press release.

Total is paying fees to each at $1.15 billion and $300 million respectively and is joining the ranks of Italian Eni, Japanese Inpex, and an Indian consortium led by ONGC Videsh.

Lower Zakum will have a production rate of 450,000 barrels per day (b/d), while Umm Shaif aims to produce 460,000 b/d on top of 500 million standard cubic feet per day (mscf/d).

Abu Dhabi, the hub of the UAE’s oil reserves, is currently allocating new oil concessions, as most previous agreements are set to expire in March.