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ADNOC, TAQA sign technical cooperation agreement 10 Nov 2015

ADNOC and TAQA signed a technical cooperation agreement for evaluating future development of hydrocarbon resources in Abu Dhabi.

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ABU DHABI, United Arab Emirates - Abu Dhabi National Oil Company (ADNOC) and Abu Dhabi National Energy Company PJSC (TAQA) have signed a technical cooperation agreement aimed at evaluating a number of integrated technologies and solutions related to the development of hydrocarbon resources in Abu Dhabi.

The signing took place on the sidelines of the eighteenth Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) taking place between 9 - 12 November.

Under the terms of the agreement, the two companies will cooperate in carrying out a number of studies and projects to overcome various challenges related to developing tight gas and tight oil reservoirs.

Yasser Al Mazrouei, ADNOC’s Deputy Director of E&P and Saeed Hamad Al Dhaheri, TAQA’s Executive Vice-President of Business Support signed the agreement in the presence of other senior officials from both companies.

Al Mazrouei said that the signing of the agreement comes in the context of the development of exploration and production operations in the oil and gas sector by employing modern technology and the exchange of experience and knowledge through research development and technology development. He added that ADNOC seeks a permanent basis for cooperation and partnerships for the development of the oil and gas sector.

"The signing of this agreement comes in the context of exploration and production operations in the oil and gas sector by employing modern technologies and exchange of experience and knowledge,” said Yasser Al Mazrouei. “ADNOC always strives to develop new wells containing good hydrocarbon resources through collaboration and creating partnerships. We are delighted to collaborate with TAQA in the area of research and execution of projects aiming at finding solutions for many technical difficulties and challenges facing gas development and production from unconventional resources. This will add more value to the projects and operations of ADNOC, and enhance the position and role of Abu Dhabi in the global oil and gas industry."

"This is a landmark agreement for TAQA and a step forward to achieve further development of its operations,” said Saeed Hamad Al Dhaheri. “We are looking forward to working and cooperating with a large company like ADNOC, to combine our capabilities and capacities, and employing our knowledge and resources to identify areas of mutual cooperation that will assist in the continued progress and growth of Abu Dhabi."

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About TAQA

TAQA is an international energy and water company listed in Abu Dhabi operating in 11 countries across four continents. The word TAQA means energy in Arabic.

TAQA strives to run its company safely and sustainably, operating to the highest ethical standards. The company is proud to align its strategy to Abu Dhabi’s Economic Vision 2030, a road map for a sustainable economy with a focus on knowledge-based industry.

TAQA has investments in power generation, water desalination, oil and gas exploration and production, pipelines and gas storage. The company's assets are located in Canada, Ghana, India, Iraq, Morocco, Oman, Saudi Arabia, the United Arab Emirates, Kurdistan Region of Iraq, Netherlands, United Kingdom and United States.