Austrian energy giant OMV sees mega payoff on Dh14 billion UAE investment
(World News Austria)

Abu Dhabi: The Austrian energy firm OMV is bullish about future growth following investment commitments of $4 billion (Dh14.68 billion) for projects in Abu Dhabi. This includes a stake in Adnoc Refining as well as in the development of sour gas fields and an offshore concession. `We are talking about $1.5 billion for the participation fee of Sarb and Umm Lulu, $2.5 billion for a 15 per cent share in Adnoc Refining,` said Rainer Seele, CEO of OMV, during a phone interview with Gulf News from Vienna. `So, if you take these two, there is already a cash commitment of $4 billion from OMV. `Then of course, we are going to spend in further...