Wintershall, Germany’s giant oil and gas producer said that the capital city of the United Arab Emirates is Arabian Gulf’s “podium of development”. The company expressed its intent to work in Abu Dhabi as a gateway of the firm’s in the Arabian Gulf.
By 2020, the Arabian Gulf is set to become a forerunner in the oil and gas business
as per Witershall’s anticipation, UAE in 6 years time can produce 50,000 barrels a day which is ahead with its other core regions.
The Germany-based company is concentrating its activities Europe, Russia, North Africa and South America and is planning to expand in Abu Dhabi as the emirate gains more importance for the firm.
This year, Wintershall will start to drill in the capital city’s Shuwaihat gas and condensate field given that the so-called sour gas and condensate booms, the company will form a concession with Abu Dhabi National Oil Company (ADNOC).
At the same time, Wintershall reveals its plans to invest €4 billion (Dh20.49bn) globally in the next five years and Abu Dhabi are expected to get the larger share of the Middle East spending, the chairman said.’