ADNOC signs framework agreement with CNOOC

The Abu Dhabi National Oil Company (ADNOC) on Monday signed the Strategic Framework Agreement with China National Offshore Oil Corporation (CNOOC) to explore new opportunities for collaboration in both the upstream and downstream sectors as well as in LNG (liquefied natural gas), China News Agency reported on Monday

The exchange of the signed agreement was witnessed by His Highness Sheikh Mohammad Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces along with Chinese president Xi Jinping.

ADNOC and CNOOC also agreed to share knowledge, best practices and latest proven technologies in the area of ultra-sour gas development with the aim of improving operational efficiency in sour gas processing and treatment.

The parties will furthermore consider including Offshore Oil Engineering Co., (COOEC) as a qualified contractor for engineering, procurement and construction opportunities, and China Oilfield Services as a qualified supplier of oilfield services and explore potential opportunities to collaborate with both companies in existing and future offshore oil and gas field assets in Abu Dhabi.

In addition, they have agreed to jointly explore potential LNG sales and purchase opportunities, sharing specific knowledge and expertise in LNG markets, and evaluate potential partnerships and joint-investment opportunities across the entire LNG value chain.

Source / More : Media

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