CDN NEWS | 
US NEWS 
DUBAI, July 21 (Reuters) – Abu Dhabi’s state energy company ADNOC has taken a $6.2 billion final investment decision to develop the Umm Shaif Gas Cap, in an acceleration of its integrated global gas growth strategy, the company said Tuesday.
The FID was made alongside ADNOC’s international partners, TotalEnergies (TTEF.PA), Eni (ENI.MI), and China National Petroleum Corporation.
The agreement is set to unlock more than 600 million standard cubic feet per day of natural gas and associated gas liquids, equivalent to nearly 10% of the UAE’s current daily gas consumption, with production set for 2030.
“ADNOC is unlocking more gas resources and expanding its LNG portfolio to meet the needs of its domestic and international customers,” the company said.
The investment includes three engineering, procurement and construction packages totalling $5.1 billion for large-scale offshore infrastructure, awarded to consortia comprising major UAE and international contractors, the company added.
The project also includes a $365 million drilling program covering 14 wells and integrated drilling services, to be executed by ADNOC Drilling over 18 months using three existing rigs.
Writing by Nayera Abdallah, Editing by Louise Heavens
Share This:
