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UAE signs nuclear tech deal with Japan
- United Arab Emirates: Saturday, May 04 - 2013 at 05:42
Japan has announced the signing of a nuclear cooperation and technology transfer deal with the UAE and expressed interest in renewing its role in an oil and gas concession set to expire in 2018, Reuters has reported. Japan has offered nuclear expertise to the UAE as well as Saudi Arabia this year in the hope that it can secure long-term oil supplies from its top two providers, said a Japanese foreign ministry spokesman. The country also asked Abu Dhabi's crown prince for an extension to Japan's upstream oil stake in the UAE which comes up for renewal in 2018, the spokesman said. Japanese Oil Development Co. owns 12% of the Abu Dhabi Marine Operating Co (ADMA-OPCO) oil and gas concession which expires in 2018. Japanese companies are also expected to bid for a stake in another concession which comes up for renewal at the end of 2013.
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