ADNOC en OCP verbreden hun partnerschap en gaan een werelwijde bemestingsmiddelen-joint venture aan
ABU DHABI, Verenigde Arabische Emiraten–(BUSINESS WIRE)–
- De voorgestelde joint venture wil de wereldwijde expertise van ADNOC op het gebied van zwavelproductie, ammoniak en gas, en logistiek combineren met de toegang van OCP tot ‘s werelds grootste fosfaatbronnen en een leidende positie in de meststoffenindustrie.
- Dit voorgestelde partnerschap zal leiden tot de gefaseerde oprichting van een joint venture met activa in zowel Jorf Lasfar, Marokko, als Ruwais, VAE.
De Abu Dhabi National Oil Company (ADNOC) en OCP Group of Morocco (OCP) hebben besloten om samen een gefaseerde creatie van een joint venture in nieuwe werelwijde bemestingsmiddelen aan te gaan, in een overeenkomst die de uitvoering van ADNOC en OCP’s internationale strategieën zal versnellen.
De voorgestelde joint venture zal bouwen op de concurrentievoordelen van beide bedrijven, zoals de sulfurproductie van ADNOC op wereldwijd niveau, haar expertise in ammonia en gas en haar verzending en logistieken netwerk, en OCP’s toegang tot grote fosfaatbronnen, zijn eeuwenoude kennis van bemestingsmiddelen en zijn marketingsnetwerk, om zo een nieuw wereldwijd bemestigsmiddel te produceren. De partners zullen twee productiehubs krijgen, één in de VAE en één in Marokko (gebruikmakend van bestaande en nieuwe activa), wat ervoor zorgt dat de joint venture werelwijd marktbereik heeft.
ADNOC and OCP Broaden Their Partnership and Intend to Develop a Global World-Class Fertilizers Joint Venture
ABU DHABI, United Arab Emirates–(BUSINESS WIRE)–
- Proposed joint venture looks to combine ADNOC’s world-scale sulphur production, ammonia and gas expertise, and logistics with OCP’s access to the world’s largest phosphate resources and leading position in the fertilizer industry
- This proposed partnership will lead to the phased creation of a joint venture company holding assets in both Jorf Lasfar, Morocco, and Ruwais, UAE
The Abu Dhabi National Oil Company (ADNOC) and OCP Group of Morocco (OCP) have agreed to explore the phased creation of a new global fertilizers joint venture, in a move that will accelerate the execution of both ADNOC and OCP’s international strategies.
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ADNOC and OCP Broaden Their Partnership and Intend to Develop a Global World-Class Fertilizers Joint Venture (Photo: AETOSWire)
The proposed joint venture will build on both companies’ competitive advantages, namely ADNOC’s world-scale sulphur production, ammonia and gas expertise, and shipping and logistics network, and OCP’s access to large phosphate resources, its century-long fertilizers know-how and its marketing network, to develop a new global fertilizers producer. The proposed partnership will comprise two fertilizer production hubs, one in the UAE and one in Morocco (utilizing both existing and new assets), giving the proposed joint venture global market reach.
This proposed project extends the partnership already established through the existing long-term sulphur offtake agreement that was announced by the two firms in December 2017. The two companies will work on developing capabilities that will support this venture, as they expand their partnership, leveraging their respective strengths and building their human capital.
The agreement aligns with ADNOC’s announced plans to increase production by at least 50% from its current levels of 7 million tons a year, as it looks to increase gas production by tapping into vast gas caps and scaling up sour gas production. OCP has engaged in a large-scale development program that will enable it to capture its fair share of growing demand for fertilizers. The first phase of this program was completed this year and has brought the Group’s existing fertilizer capacity to 12 million tons, and rock export capacity to over 18 million tons.
Commenting on the agreement, H.E. Dr. Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO, said: “The proposed joint venture with OCP Group illustrates ADNOC’s intent to maximize the value of all our resources, as we grow our downstream business, diversify our product range and increase revenues. The agreement builds on the expanded partnership model we announced last year, as we open our entire value chain to reliable, value-adding, long-term partners, who can complement our capabilities and resources, and enhance our market access.
“Importantly, this agreement is aligned with the directives of our leadership to further build on the existing close relationship and ties between the United Arab Emirates and Morocco, and we look forward to building on these firm foundations as we work towards potentially building a new global fertilizers champion.”
Mr. Mostafa Terrab, OCP Group Chairman and CEO, said: “This collaboration between our companies brings together the world’s largest phosphate reserves and the world’s largest sulphur production capacity and it represents an unprecedented alliance in the industry, providing the partners with a world-class integrated asset base and complementary geographic locations. We view this new partnership as a unique opportunity, in line with our global strategy, that will contribute to our ability to serve growing demand for fertilizers worldwide.”
The agreement comes as ADNOC, at its Downstream Investment Forum, unveils its ambition and plans to become a global downstream leader, enabling it to further stretch the value of every barrel it produces to the benefit of ADNOC, its partners and the UAE. It aligns with ADNOC’s 2030 strategy of a more profitable upstream, more valuable downstream, more sustainable and economic gas supply, and more proactive, adaptive marketing and trading. This project further supports ADNOC’s downstream growth plans to create the world’s largest integrated refining and petrochemicals complex in Ruwais.
ADNOC’s Downstream Investment Forum gathered, in Abu Dhabi, over 40 global CEOs and more than 800 senior global business leaders from diverse industry sectors. At the Forum, ADNOC partners, stakeholders, customers and suppliers heard details about the company’s new downstream growth plans as well as new partnership and investment opportunities available across the expanded ADNOC value chain, as it seeks to redefine and transform its downstream business.
About ADNOC
ADNOC is a major diversified group of energy and petrochemical companies that produces about 3 million barrels of oil and 10.5 billion cubic feet of raw gas a day. Its integrated upstream, midstream and downstream activities are carried out by 14 specialist subsidiary and joint venture companies. To find out more visit www.adnoc.ae. For further information: media@adnoc.ae
About OCP
OCP is a global leader in the fertilizer industry, backed by almost a century’s production history. OCP has exclusive access to the largest phosphate rock reserve base in the world. It is one of the lowest cost producers of phosphate rock in the industry and has become a leading player in production and trade volumes across the phosphate value chain. OCP employs 21,000 people and contributes to regional development through its mining and fertilizer operations, and through its sustainability program.
For more information visit www.ocpgroup.ma or http://www.ocpgroup.ma/media/pressroom
*Source: AETOSWire
View source version on businesswire.com: https://www.businesswire.com/news/home/20180515005988/en/
Contacts
ADNOC
Sean McCarthy, +971564067996
smccarthy@adnoc.ae