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DUBAI, United Arab Emirates (AP) – The national Abu Dhabi National Oil Company has announced the signing of $ 5.8 billion worth of deals with the Italian companies Eni and Austrian OMV for a participation in the refining unit of the company and the creation of a new commercial enterprise.
Eni has been awarded a 20% share and OMV a 15% share in the new commercial venture and in ADNOC Refining, ADNOC holding the remaining 65%. ADNOC Refining has a refining capacity of 922,000 barrels per day and is valued at $ 19.3 billion.
OMV and Eni have already signed agreements with ADNOC regarding equity interests in the Abu Dhabi oil fields.
The crown prince of Abu Dhabi, Mohammed bin Zayed Al Nahyan, Italian Prime Minister and Austrian Minister of Finance, witnessed the signing of the new agreements in Abu Dhabi on Sunday.
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