Abu Dhabi – Mubasher: The Abu Dhabi National Oil Company (ADNOC) has signed three framework agreements with South Korean energy companies on Tuesday.
The UAE’s state-run oil and gas giant signed the agreements with the Korea Gas Corporation (KOGAS), the Korea National Oil Company (KNOC) and GS Energy.
The deals were inked by Sultan bin Ahmad Sultan Al Jaber, Minister of State and ADNOC Group CEO, and Kim Young Doo KOGAS CEO; Yang, Su Yeong, CEO of KNOC and Huh, Yongsoo, GS Energy’s CEO.
The three deals aim to explore upstream exploration and production opportunities, potential downstream investments and bunkering opportunities for both crude oil and liquified natural gas (LNG), the state-run news agency WAM reported.
“Our discussion explored domestic and international growth opportunities across a range of areas, including oil and [liquefied natural gas (LNG)] bunkering, meeting the Republic of Korea’s growing energy demands and attracting investment to our expanding upstream exploration and development operations and our downstream and gas expansion plans,” Al Jaber commented.
ADNOC did not give further details regarding the contracts’ total value.
