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Agency for Natural Resources and Energy METI, ADNOC and JOGMEC Signed a Memorandum of Cooperation

On October 8 (Sun.), 2017, Mr. Hiroshige Seko, Minister of Economy, Trade and Industry, H.E. Sultan Ahmed Al Jaber, Chief Executive Officer of the Abu Dhabi National Oil Company (ADNOC), and Mr. Keisuke Kuroki, President of the Japan Oil, Gas and Metals National Corporation (JOGMEC), agreed concerning the enhancement of the relationship between Japan and the United Arab Emirates (UAE) through cooperation in the field of energy, and accordingly, they signed a memorandum of cooperation (MOC).

1. Summary of the results

On October 8, 2017, Minister Seko, CEO Jaber and President Kuroki agreed concerning the enhancement of the relationship in the field of oil and gas, including strategic business development ranging from the upstream to midstream and to downstream business, technological cooperation and human resource development. And accordingly, they signed an MOC among the three parties. This MOC was signed taking the opportunity of Minister Seko’s visit to the UAE.

2. Japan-UAE relationship

As the UAE is an important crude-oil supplier to Japan, accounting for approximately 25% of Japan’s total import amount of crude-oil, the enhancement of the Japan-UAE relationship is significant for Japan in terms of its energy security.

Under the contracts with ADNOC, Japanese companies have been participating in projects for developing offshore oilfields in Abu Dhabi, UAE, whose oil concessions will terminate in March 2018. The government of Japan, through high-level meetings, will continuously encourage dignitaries of ruling families, ministers and other officials in Abu Dhabi to extend the oil concessions on offshore oilfields.

3. Future actions

Under the MOC, Japan will strive to advance discussions aiming to achieve not only projects for developing oil and gas fields but also joint business implementation ranging from the midstream to downstream business, and expand those joint business entering to new markets in Asian and other countries.

Specifically, METI, JOGMEC and ADNOC will establish business area-based subordinate committees, such as those for cultivating business opportunities ranging from the upstream to midstream in the fields of oil and natural gas, and technological cooperation and human resource development in the upstream business area, and those in the midstream and downstream business areas. In these committees, these parties will exchange views, and bring together experts from companies related to the fields of oil and natural gas, trading companies, financial institutes and other entities from Japan and the UAE.

Release date

October 10, 2017

Division in Charge

Petroleum and Natural Gas Division, Natural Resources and Fuel Department, Agency for Natural Resources and Energy

Ministry of Economy, Trade and Industry1-3-1 Kasumigaseki, Chiyoda-ku, Tokyo 100-8901, Japan Tel: +81-(0)3-3501-1511
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