Home » DCT Abu Dhabi signs MoU with INPEX subsidiary, Japan Oil Development, for 10-year sponsorship deal

DCT Abu Dhabi signs MoU with INPEX subsidiary, Japan Oil Development, for 10-year sponsorship deal

by Dubaiforum

ABU DHABI, 23rd February, 2023 (WAM) — The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) has signed a Memorandum of Understanding (MoU) with INPEX corporation (INPEX), a Japanese oil company, through its subsidiary Japan Oil Development, Co., Ltd. (JODCO), for a ¥1 billion Japanese yen (US$ 7.646 million) sponsorship of the upcoming teamLab Phenomena Abu Dhabi.

The experiential art space, based on the ‘environmental phenomena’ concept by Tokyo-based international art collective teamLab, is being developed by DCT Abu Dhabi in partnership with Miral, Abu Dhabi’s leading creator of immersive destinations and experiences.

Visitors and residents will be able to access the unique experience after construction is completed in 2024. teamLab Phenomena is located in Abu Dhabi’s Saadiyat Cultural District, which is home to several key cultural projects, including Louvre Abu Dhabi, Berklee Abu Dhabi, Manarat Al Saadiyat, Zayed National Museum, Guggenheim Abu Dhabi, and the Natural History Museum Abu Dhabi.

The MoU was signed by Saood Abdulaziz Al Hosani, Under-Secretary of DCT Abu Dhabi, and Hiroshi Fujii, President and CEO, JODCO. JODCO has agreed to sponsor teamLab Phenomena Abu Dhabi, contributing to the enrichment of the UAE’s cultural landscape, and will pursue the execution of an official sponsorship agreement following discussions on specific terms.

Mohamed Khalifa Al Mubarak, Chairman of DCT Abu Dhabi, expressed his excitement about the partnership, stating that it would inspire a new generation and ignite imagination and ideas for the future.

Saood Al Hosani said that the MoU demonstrated Abu Dhabi’s competitiveness and attractiveness as a destination for commercial partnerships that add mutual value and enrich lives.

Takayuki Ueda, President & CEO of INPEX, expressed his delight in sponsoring teamLab Phenomena Abu Dhabi, stating that the partnership was part of their educational, cultural, and environmental activities supporting the core energy business of their subsidiary, JODCO. Ueda further stated that teamLab’s inspiring work cannot be described in words, and they look forward to bringing Emirati children and youth to the art space upon completion to help nurture and enhance their curiosity, imagination, and creativity. INPEX also intends to supply low-carbon energy solutions to Japan and other countries in partnership with Abu Dhabi over the next 50 years while enhancing the collaboration between the UAE and Japan through social responsibility programmes.

Overall, the sponsorship by INPEX highlights the continued collaboration between the UAE and Japan, and the development of teamLab Phenomena Abu Dhabi will offer a unique and immersive cultural experience for visitors and residents alike.


You may also like

About Dubai Forum

Dubai Forum: your daily source for the latest news from Dubai, the United Arab Emirates, and the broader Middle East region. Our coverage includes updates on people, lifestyle, communities, business, startups, and finance, keeping you informed on all facets of the dynamic Dubai scene. #Dubaicommunities #people #travel #startups #DubaiForum