The Abu Dhabi National Oil Company (Adnoc) and Malaysia’s Petronas have signed a strategic framework agreement to collaborate across the full oil and gas value chain, Adnoc said in a March 10 statement.  

Under the terms of the agreement, the companies will potentially work together in the exploration, development, and production of conventional and unconventional hydrocarbon resources in Abu Dhabi. They will also consider cooperation in the domestic and international downstream sector, Adnoc said.

Advertisement: The National Gas Company of Trinidad and Tobago Limited (NGC) NGC’s HSSE strategy is reflective and supportive of the organisational vision to become a leader in the global energy business. ngc.co.tt

Among the opportunities in Abu Dhabi, the company added, is Taziz, Adnoc's joint venture with the Abu Dhabi Development Holding Company that is developing chemicals and other downstream projects in Ruwais. Another is in fuel oil and LNG bunkering.

Adnoc and Petronas have also agreed to explore potential partnership opportunities in trading including optimisation of crude and feedstock supply and refined products offtake. In addition, they will look to collaborate on technology solutions as well as on hydrogen and research and development in areas like enhanced hydrocarbon recovery and carbon capture utilisation and storage, Adnoc said.