DUBAI, Oct. 8 (Xinhua) -- The government-controlled Abu Dhabi National Oil Company (ADNOC) said Sunday it has strengthened its energy partnership with Japan, through the signing of a tri-partite Memorandum of Cooperation with Japan's Ministry of Economy, Trade and Industry (METI) and the Japan Oil, Gas and Metals National Company (JOGMEC).
The agreement was signed by Dr Sultan Ahmed Al Jaber, United Arab Emirates (UAE) Minister of State and ADNOC Group CEO, Hiroshige Seko, Japan's Minister of Economy, Trade and Industry and Keisuke Kuroki, President of the Japan Oil, Gas and Metals National Company.
ADNOC said this memorandum establishes a framework for cooperation on strategic business development, upstream technical cooperation and training and development programs for ADNOC employees.
Dr. Al Jaber said "the long-term energy partnership between Japan and the UAE is one that goes back to before the establishment of ADNOC, with Japanese companies playing, and continuing to play, an important role in the development and expansion of the country's oil and gas industry."
"Today we are strengthening that partnership by pursuing new opportunities that will help us unlock greater value from our resources. This is a clear example of how our expanded approach to partnerships presents unique opportunities for both new and existing partners to invest alongside ADNOC to capture growth opportunities and deliver future prosperity," the emirate of Abu Dhabi which is also the capital of the UAE, harbors approximately seven percent of the world's known oil reserves.
ADNOC has supplied Japan with oil, gas and refined products since its foundation in 1971. It is Japan's second-largest supplier of crude oil and a major supplier of gas and refined products, said the statement.
