ABU DHABI - March 9, 2014--Occidental Al Hosn LLC, a subsidiary of Occidental Petroleum Corporation, today signed a Memorandum of Understanding (MOU) with The Petroleum Institute (PI), one of the educational institutions sponsored by ADNOC, whereby Occidental commits to working with and supporting PI in research, development and the advancement of sour gas processing and sulphur technologies in Abu Dhabi. The Honorable Penny Pritzker, U.S. Secretary of Commerce, H.E. Abdulla Nasser Al Suwaidi, Director General of the Abu Dhabi National Oil Company (ADNOC), and Stephen I. Chazen, President and Chief Executive Officer, Occidental Petroleum Corporation, witnessed the signing, which took place at ADNOC Headquarters in Abu Dhabi.

Under the terms of the MOU, Occidental will contribute a total of US$20 million to PI over a period of 10 to 20 years. The MOU contemplates several initiatives, including research towards technologies in sour gas development, as well as programs to provide educational and training opportunities for Emiratis.

Mr. Abdul Munim Saif Al Kindy, Deputy Chairman of the PI Governing Board and CEO of Abu Dhabi Company for Onshore Oil Operations "ADCO", signed for the ADNOC whereas Mr. Edward Lowe, President - International Production, Occidental Oil and Gas Corporation, signed for Occidental. The signing ceremony was attended by a number of senior officials from both sides.

"At the Department of Commerce, we serve as a partner with U.S. businesses to help them compete and succeed in the global marketplace," said U.S. Secretary of Commerce Penny Pritzker.

H.E. Abdulla Nasser Al Suwaidi, ADNOC Director General, said "In line with our strong belief in the importance of the human resources in oil and gas industry, ADNOC is committed to provide education and training to young UAE nationals to fulfill the growing requirements for high-skilled labor force within the Oil and Gas industry. ADNOC fully believes in the importance of scientific research and modern technology in education, for that end we are seeking to build constructive partnerships with the major international companies to provide a solid research foundation which will later be reinforced with internships and comprehensive on-the-job training programs to contribute to our efforts aiming at Emiritaiztion of the oil and gas sector as strategic goal of our wise leadership", he added.

"Moreover, initiatives such as the recent signing of a Memorandum of Understanding (MoU) between the Petroleum Institute and Oxy will enhance further the transfer of knowledge and know-how from the experts within the oil and gas industry to the future workforce here in the UAE," he said. 

"Occidental is honored to partner with The Petroleum Institute in its efforts to advance knowledge in sulphur technologies and to promote the professional development of young engineers in the UAE," said Mr. Chazen. "We take pride in helping to further this important work, and we look forward to its positive impacts on our industry and future workforce."

© Press Release 2014