Russia’s energy cooperation with the countries of the Middle East has overpowered the headlines this week, as President Vladimir Putin was in Riyadh for his first visit to Saudi Arabia and the United Arab Emirates (UAE).
Officials from Russia’s third-largest oil producer, Gazprom Neft, signed a comprehensive strategic plan with the Abu Dhabi National Oil Company (ADNOC) to find new opportunities for partnership.
“Under the agreement, the partners will study the options for interaction in the areas of exploration and generation of sour gas, making the methods better for growing oil and gas recovery and innovative technologies for analyzing carbonate reservoirs,” read a statement printed on Thursday to Gazprom Neft.
The UAE’s state-run ADNOC is one of the world’s biggest energy generators, making almost three million barrels of oil and over 9.8 billion cubic feet of crude gas per day. The agreement printed this week is expected to bring close what are two leading energy generators to partner in areas of mutual strategic significance and reinforce bilateral relations between the UAE and Russia.
“A comprehensive understanding with Gazprom Neft is a natural step in building close and deep consensual relations between the UAE and Russia,” ADNOC Upstream Executive Director Abdulmunim Saif Al Kindy said.
“It serves as the base for strengthening and growing strategic cooperation in the energy zone between our countries.”
Gazprom Neft, a branch of Gazprom, is mostly busy in oil and gas exploration and generation, refining and the generation and sale of petroleum products. It is one of the world’s top public companies by proven liquid hydrocarbon reserves and a worldwide leader in its rapidity in reserves replacement.