Abu Dhabi state oil firm Adnoc last week signed an MoU with Austrian integrated petroleum firm OMV – owned 24.9% by Abu Dhabi’s state investment firm Mubadala – to study “potential opportunities to work together” to support Adnoc’s downstream businesses.

OMV also has existing upstream activities in Abu Dhabi. It partners 50:50 with Germany’s Wintershall (operator) at the offshore Shuwaihat gas field, where they are evaluating data from a well spud...