ADNOC has taken a $6.2 billion final investment decision for the Umm Shaif Gas Cap development in Abu Dhabi with TotalEnergies, Eni and China National Petroleum Corporation.
The development is expected to unlock more than 600 million standard cubic feet per day of natural gas and associated gas liquids. Production is expected by 2030.
The planned output is equivalent to almost 10% of the UAE’s current daily gas consumption. The project forms part of ADNOC’s gas growth strategy and its expansion of liquefied natural gas activities for domestic and international customers.
The investment includes three engineering, procurement and construction packages with a combined value of $5.1 billion. The contracts cover large-scale offshore infrastructure and were awarded to consortiums involving UAE and international contractors.
A separate $365 million drilling and integrated drilling services program will be delivered by ADNOC Drilling. The 18-month program covers 14 wells and will use three existing rigs.
The final investment decision follows the Supreme Council for Financial and Economic Affairs’ award of the Bab Gas Cap concession agreement. That development is expected to unlock an additional 1.5 billion scfd of natural gas and associated gas liquids.
ADNOC has also launched an LNG marketing and trading platform in Abu Dhabi Global Market. The company is targeting 47 million tonnes per annum of combined marketable LNG capacity by 2035.
