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KOREA INSTITUTE OF GEOSCIENCE AND MINERAL RESOURCES
THE WORLD'S LEADING RESEARCH
INSTITUTE OF GEOSCIENCE

KIGAM News

KIGAM and KNOC Signed the MOU with ADNOC for R&D Cooperation on Oil Field Development in UAE

  • Writeradmin
  • Date2015-03-04
  • Hit1442
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Korea Institute of Geoscience and Mineral Resources(Dr. Kyu Han Kim, President) and Korea National Oil Corporation(Mr. Moon Kyu Seo, President & CEO) signed the MOU with Abu Dhabi National Oil Company(Abdulla Nasser Al Suwaidi, Director General of ADNOC) on March 4th, 2015 in the ADNOC headquarter, located in Abu Dhabi for R&D cooperation on oil field development in UAE.

 

In the MOU, ADNOC, KNOC and KIGAM have agreed upon promoting joint research and technological cooperation related to oil concessions (Area 1, 2 & 3) in UAE. The scope of cooperation will include petroleum/geology/geophysics/basin/geo-chemical analysis; reservoir characterization by using field data; well stimulation and enhanced oil recovery considering the reservoir characteristics. Also, they have plans for experts exchange, regular technical seminars and workshops, aiming for promoting R&D cooperation.

Dr. Kyu Han Kim, President of KIGAM, said that "KIGAM is going to expand joint research collaborations with UAE, the oil-producing country with advanced technologies with today’s MOU". He also added that as the leading organization responsible for R&D program, KIGAM is committed to do its best to make sure that joint research and exchange of experts will go as smoothly as planned.

It is expected that this partnerships between UAE and Korea will be helpful to strengthen the R&D capabilities of all the parties(ADNOC, KIGAM, and KNOC). Also, it helps to achieve productivity in the oil field business, which currently operated by Al Dhafra.

 

The Korean Consortium(KADOC) associated by KNOC and GS Energy is currently joining development activities in three oil concessions(Area 1, 2 & 3) in UAE, which holds the world's seventh-largest proved oil reserves. Al Dhafra(Al Dhafra Petroleum Operations Company), the joint venture company established by ADNOC and KADOC, is now engaging in overall activities in the three oil concessions.

 


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