Abu Dhabi, April 21 (IANS/WAM) Abu Dhabi's International Petroleum Investment Company (IPIC) and Oman Oil Company (OOC) have signed an agreement on investments in oil, gas and petrochemicals projects and exchanging industry expertise.

IPIC, an investment company, has been established by the Abu Dhabi government.

The agreement was inked between Khadem al Qubaisi, managing director of IPIC, and Ahmed Al Wihaibi, chief executive officer of Oman Oil Company (OOC).

Both sides hoped that the agreement would open up new avenues of joint investment cooperation locally and internationally. Besides, the projects that would be undertaken under this partnership would create job opportunities for citizens of both countries.

Nasser bin Khamis Al Jashemi, chairman of OOC, said the two partners would cooperate in building refineries and petrochemicals.

Mansour bin Zayed Al Nahyan, deputy prime minister, minister of presidential affairs and chairman of IPIC, and Oman's oil and gas minister Mohammad bin Hamad bin Saif al-Rumhy, were present during the signing ceremony.