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 for the firm in the Arabian Gulf.
By 2020, the Arabian Gulf is set to turn into a forerunner in the oil and gas business
as per Witershall’s anticipation, UAE in 6 years time can create 50 thousand barrels per day which is ahead with its other important regions.
The Germany-based company is concentrating its activities in Russia, Europe, North Africa, and South America and is planning to expand in Abu Dhabi as the emirate gains more significance for the firm.
This year, Wintershall will begin to drill in the capital city’s Shuwaihat gas and condensate field has given that the so-called sour gas and condensate booms, the company will start a concession with Abu Dhabi National Oil Company (ADNOC).
The chairman stated that Wintershall reveals its plans to invest four billion euro (Dh20.49bn) globally in the following years and the capital city is anticipated to get the larger share of the Middle East spending.