ADNOC Gas has announced a significant step forward in its Rich Gas Development Project, approving a USD 5 billion investment for the first phase. This decision marks the largest capital investment in the company's history and is a key component of its strategy to increase EBITDA by 40% by 2029.

The initial phase of the Rich Gas Development Project involves the expansion and enhancement of processing units across four ADNOC Gas facilities: Asab, Buhasa, Habshan, and the Das Island liquefaction facility. The aim is to boost throughput and improve operational efficiency, thereby increasing production capacity to meet growing market demands.

To facilitate this development, ADNOC Gas has awarded Engineering, Procurement, and Construction Management (EPCM) contracts in three tranches:

• A USD 2.8 billion contract for the Habshan facility awarded to Wood Group.

• A USD 1.2 billion contract for the Das Island liquefaction facility awarded to a consortium comprising Petrofac and Kent Plc.

• A USD 1.1 billion contract for the Asab and Buhasa facilities awarded to the same consortium.

Strategic Significance

This project aligns with ADNOC Gas's long-term strategy to enhance its gas processing capabilities and contribute to the UAE's energy sector growth. By increasing production capacity, ADNOC Gas aims to meet the rising demand for natural gas both domestically and internationally. The project is also expected to create hundreds of new, field-based technical positions by 2029, supporting the UAE's economic

ADNOC Gas plans to take final investment decisions on two additional phases of the Rich Gas Development Project at Habshan and Ruwais. These phases are intended to further enhance production capacity and ensure a sustainable supply of natural gas to meet future market needs.

The approval of this USD 5 billion investment underscores ADNOC Gas's commitment to expanding its operations and supporting the UAE's energy sector objectives. Through strategic investments and partnerships, ADNOC Gas is positioning itself to play a pivotal role in the global energy market.

Discover the Latest Updates on the Global Oil and Gas Projects

Looking for trusted insights into the top oil and gas developments around the globe? Blackridge Research's Global Project Tracking (GPT) platform provides everything you need, all in one place:

• Real-Time Data: Track upcoming projects, tenders, and contract awards

• Early-Stage Insights: Spot business opportunities before your competitors

• In-Depth Details: Project scope, capacity, funding, timelines, and key contacts

• Seamless Navigation: Explore projects across all development phases with ease

Book a Free Demo today and unlock your next big opportunity in the Global oil and gas sector!