OMV has received a 5% stake for 40 years in the Ghasha natural gas and condensate fields off the Emirati coast from operator Abu Dhabi National Oil. The project, which involves three major development projects and other fields, is expected to produce at least 1.5 billion cubic feet of gas per day and over 120,000 oil equivalent barrels daily around the mid-2020s.

OMV says oil production is underway at the SARB and Umm Lulu fields off the UAE's coast. The Austria-based oil and natural gas company, which has a 20% interest in the two fields, plans to produce 10,000 oil barrels per day to start, 25,800 per day by the end of the year and 43,000 daily by 2023.

Total has signed 40-year agreements with Abu Dhabi National Oil to acquire a 20% stake in the Umm Shaif and Nasr concession and a 5% stake in the Lower Zakum prospect. The France-based company's $1.45 billion deal for the offshore sites in the UAE follows Italy-based Eni's $875 million agreement with UAE-operated ADNOC a week ago to acquire stakes in three fields.

Abu Dhabi National Oil says it will open new oil and natural gas blocks to competitive bidding. The UAE state-owned company, which is awarding partnership stakes in its Abu Dhabi Marine Areas concession, provided no details about the blocks or bidding time frame.

What will be the largest indoor snow park in the world will be constructed in Abu Dhabi, United Arab Emirates, as part of the $1 billion Reem Mall currently in development. Guests will be able to engage in various snow-related activities such as luge runs, sledding and zorbing across the 124,861-square-foot space. The mall is slated to open in 2018.