Abu Dhabi National Oil Company (ADNOC) and Occidental Petroleum Corporation signed a technical evaluation agreement for the development of Hail and Ghasha oil fields. Under the terms of the new agreement, ADNOC and Oxy will cooperate in carrying out a number of activities that reach up to $ 500 million in investment. The agreement covers 3D seismic surveys, drilling of appraisal wells and conducting of engineering studies necessary for the fields' development.
The agreement was signed by Mr. Mohammed Butti Al Qubaisi Director, Exploration and Production at ADNOC and Mr. Edward Lowe President, Occidental Oil and Gas International.
On the other hand, Mr. Saoud Mubarak AlMehairbi Manager, Exploration Division at ADNOC ensured that this technical evaluation agreement, will further promote mutual cooperation between the two companies. "Under this agreement Oxy will provide manpower support in form of secondees to ADNOC for short, mid and long terms to be agreed between the parties for the development of ADNOC human capabilities and will organize a number of training courses to provide human resources development opportunities to ADNOC staff focusing on selected areas such as geology and technical areas "
According to the plan the necessary evaluation studies and the desired goals of the developmental project is expected to be realized by 2017.
For inquires please call:
Osama Ali Mussad
Public Relations Division - ADNOC
Tel: +9712 6023055
Mobile: +97150 5641362
© Press Release 2015
