Oil & Gas
ADNOC & PETRONAS Ink Strategic Framework Agreement
The Abu Dhabi National Oil Company announced a strategic framework agreement with Petroliam Nasional Berhad PETRONAS to explore opportunities
The Abu Dhabi National Oil Company announced a strategic framework agreement with Petroliam Nasional Berhad PETRONAS to explore opportunities for collaboration across the full oil and gas value chain. The first-ever agreement between both companies builds on the strong bilateral ties between the United Arab Emirates and Malaysia and underscores ADNOC’s expanded approach to strategic partnerships that is enabling it to unlock and maximize value across its entire portfolio as it delivers its 2030 strategy.
Under the terms of the agreement, ADNOC and PETRONAS will jointly explore opportunities for collaboration in the exploration, development, and production of conventional and unconventional hydrocarbon resources in the Emirate of Abu Dhabi. This highlights the potential of Abu Dhabi’s vast untapped oil and gas resources and ADNOC’s approach to leveraging strategic partnerships to accelerate the exploration and development.
ADNOC and PETRONAS have also agreed to explore potential partnership opportunities in trading including optimization of crude and feedstock supply and refined products offtake. In addition, they will look to collaborate to identify technology solutions as well as on Hydrogen and research and development in areas of mutual interest including enhanced hydrocarbon recovery and Carbon Capture Utilization and Storage where ADNOC is an industry leader.