ADNOC greenlights $6.2bn Umm Shaif Gas Cap project
Abu Dhabi's State energy company Abu Dhabi National Oil Company (ADNOC) has taken a $6.2-billion final investment decision (FID) 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, Eni 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 United Arab Emirates’ (UAE’s) current daily gas consumption, with production set for 2030.
“ADNOC is unlocking more gas resources and expanding its liquefied natural gas 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.