Germany, Abu Dhabi ink energy deal

June 26, 2008 at 5:35 PM

ABU DHABI, United Arab Emirates, June 26 (UPI) -- The German energy firm Wintershall signed a memorandum of understanding with an Abu Dhabi oil investment firm to develop regional natural resources.

The joint investment between Germany's largest crude oil and natural gas producer and Abu Dhabi's International Petroleum Investment Co. focuses on oil and gas exploration in the Gulf region, North Africa and the Caspian Sea, the Middle East business and finance information portal Zawya reported Thursday.

The agreement concerns oil and gas exploration particularly in the United Arab Emirates, Iraq and other countries.

Wintershall said it hopes to expand its presence in the region with the deal.

Like Us on Facebook for more stories from UPI.com  
Topics: Abu Dhabi
Latest Headlines
Top Stories
Houston-based LINN leaves Texas shale
Australian troops to receive new rifle variant
Gas prices could go up, AAA says
Saab joining BAE Systems, Patria in bid to produce armored vehicle
Kurdish government in Iraq selling more oil