His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, said that the UAE is always keen to enhance strategic partnerships with friendly countries, thus promoting the exchange of knowledge, technology and technology. Economic and social development.
His Highness and Austrian Chancellor Sebastian Kurtz witnessed yesterday the signing of framework agreements between Abu Dhabi National Oil Company (ADNOC) and Austria's OMV and Borealis to explore opportunities to strengthen strategic partnerships, investment and cooperation in energy and petrochemicals. .
The signing ceremony was attended by His Highness Sheikh Hamed bin Zayed Al Nahyan, President of Abu Dhabi Crown Prince's Court, and Her Highness Sheikha Hessa bint Mohammed bin Zayed Al Nahyan.
Joint meeting
His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and the Austrian Chancellor discussed the friendly relations and cooperation between the UAE and Austria and means of developing them in all fields to achieve their common interests.
During his meeting in Abu Dhabi, HH the Amir welcomed the Austrian Chancellor and expressed his pride in the distinguished relations of friendship between the UAE and his country. He expressed his hope that his visit would contribute to enhancing relations between the two countries.
The Austrian Chancellor reviewed aspects of bilateral cooperation and joint action in a number of areas, especially investment, economic and cultural, and exchanged views on regional and international issues and developments in the Middle East.
For his part, the Austrian Chancellor expressed his happiness to visit the UAE, stressing that his country pays special attention to the consolidation and development of its relations with the UAE, which is a model of cultural development, an important economic center, and a forum of civilizations and cultures.
Enabling ADNOC
Abu Dhabi National Oil Company (ADNOC) and its group of companies, Dr. Sultan bin Ahmed Al Jaber, said: "In line with the leadership's directives to strengthen the partnership and cooperation approach, these agreements contribute to strengthening our strategic partnership with OMV ), Which includes our business in the fields and stages of the oil and gas sector all ».
"This partnership enables us to benefit from the global expertise and advanced technology owned by OMV and to enable ADNOC to realize additional value from Abu Dhabi's crude oil production, increase profitability and economic return, In the global demand for petrochemicals, in an effort to accelerate the implementation of its integrated strategy 2030 for smart growth ».
"In line with ADNOC's plans to expand refining and petrochemicals by attracting and implementing investments that contribute to increasing the value and economic return of our existing resources and to ensure that our growing portfolio of products reaches the market more effectively, our strategic partnership with Borealis will contribute to establishing Further growth opportunities for the benefit of the two parties, in order to strengthen ADNOC's position and enhance its ability to meet the growing demand for a diverse range of refined and petrochemical products of high value. "
Recycling
"These agreements confirm OMV's commitment to the strategic partnership with ADNOC and its willingness to provide expertise to contribute to additional value," said Dr. Rainer Sealy, Chief Executive Officer of OMV.
"This move is in line with our strategy to grow and expand in all areas of the oil and gas sector, boost our petrochemical business, and contribute to reducing carbon dioxide through the application of Reoil Plastics Recycling Technology, Rotation.
Innovative solutions
Burealis CEO Alfred Stern said the agreement aims to enhance value creation through innovation by building on the success of Borouge and anticipating demand for innovative polyolefin solutions "High value is continuing, as a result of sustainable growth in the Asia and Middle East region.
He added that the agreement aims to provide Borealis with the advanced technologies and market expertise that will contribute to the promotion and development of a successful partnership with ADNOC.
"Through a long-term partnership with the UAE, Borealis and ADNOC crowned this partnership with the successful establishment of Borouge, and we look forward to exploring further opportunities for value enhancement by building on our successful collaboration with the partner. (ADNOC), in the field of polyolefins, to serve customers around the world. "
The object of the agreements
In accordance with the first agreement, ADNOC and OMV will evaluate new opportunities to expand their existing partnerships in petrochemical projects and exchange knowledge and expertise in the development and integration of refining and petrochemicals. The two companies will establish opportunities for cooperation to support the marketing of their petrochemical production.
The second agreement provides for the cooperation of ADNOC and OMV in exploring the possibilities of using Reoil plastic recycling technology at ADNOC's Ruwais Refining and Petrochemical Complex in Al Dhafra, Abu Dhabi.
The "Reoil" technology from OMV is used in the production of synthetic petroleum fuels from the recycling of used plastic.
Under the third agreement, ADNOC and Borealis will explore potential growth opportunities in all areas of the polyolefin industry in key markets by building on the strengths and strengths of the company, which contributed to the growth and development of Borouge, Between ADNOC and Borealis, over the past 20 years, to support the growth of key market players by adopting innovative value enhancement solutions.