International Petroleum Investment Co. (IPIC)


Contact Information
Sheikh Zayed the 1” street
Al Muhairy Center
Office Tower, 10th Floor
Abu Dhabi
United Arab Emirates
T: +971-2-6336555
F: +971-2-6330111

History in Turkmenistan
In 2007, it was reported that OMV Group had partnered with the International Petroleum Investment Company (IPIC) of the United Arab Emirates and Royal Dutch Shell to develop proposals for energy projects in Turkmenistan.[i]

Current Scope of Operations
In July 2010, it was reported that IPIC was interested in becoming the seventh shareholder in the Nabucco Gas Pipeline Project. IPIC has a 20 percent stake in OMV, one of the current shareholders in the Nabucco project.[ii]

In November 2010, the Energy Minister for the United Arab Emirates spoke to the 15th Turkmenistan International OI land Gas Conference, saying “We are following with interest the positive contribution of the UAE companies to the development of Turkmenistan and in particular the role of Mubadala and its partners ConocoPhillips, the International Petroleum Investment Company, Dragon Oil and its project to produce 75000 barrels of oil per day from Turkmenistan, Petrofac and Gulf Oil and Gas are also active in the oil and gas industry here.”[iii]

According to a January 2011 report, “IPIC and Shell are planning E&P ventures as well as a $500m urea plant in Turkmenistan to produce 1m t/y.”[iv]