Gazprom Neft, ADNOC conclude a framework agreement on strategic cooperation in oil and gas

Gazprom Neft ADNOCGazprom Neft and the Abu Dhabi National Oil Company (ADNOC) have entered into a framework agreement on strategic cooperation

The companies will explore opportunities for implementing joint projects in the upstream and downstream sectors, as well as in information technologies, artificial intelligence, and other areas.

The document was signed by Vladislav Baryshnikov, deputy CEO, International Business Development and a member of the management board, Gazprom Neft, and Abdulmunim Saif Al Kindy, executive director, Upstream Directorate, ADNOC.

Under this agreement the partners will study opportunities for collaboration in sour-gas exploration and production, developing enhanced oil and gas recovery strategies, and developing innovative technologies for investigating carbonate reservoirs.

The agreement creates a platform for potential collaboration in developing production-analytical systems in hydrocarbon exploration, production, logistics, processing and sales.

The parties will assess opportunities for joint projects in geological prospecting and oil- and gas-field development, including at concessions within the Emirate of Abu Dhabi. In addition to this, further areas for potential technological cooperation include developing management systems, information technologies and artificial intelligence (AI).

Baryshnikov said, “The signing of this agreement marks a major milestone in the developing relationship between Gazprom Neft and ADNOC. It creates a platform for cooperation in science and technology, as well as in hydrocarbon exploration, production, processing and sales.”

Saif Al Kindy commented, “This comprehensive framework agreement provides a basis for strengthening and expanding strategic relations between our two countries in the energy sector. It offers the potential for new opportunities for both companies in the exploration and development of natural resources, including in processing and sales, as well as in AI and the production of sour (high-sulphur) gas – where ADNOC has vast untapped reserves.”

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