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June 26, 2008 / 5:35 PM

Germany, Abu Dhabi ink energy deal

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.

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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.

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