ADNOC approves $6.2 billion gas project offshore Abu Dhabi

Published Jul 21, 08:49 AM UTC

Abu Dhabi's national oil company ADNOC has approved a $6.2 billion final investment decision to develop the Umm Shaif Gas Cap project offshore Abu Dhabi, partnering with TotalEnergies, Eni, and CNPC. The project includes $5.1 billion in EPC contracts and a $365 million drilling program by ADNOC Drilling. It is expected to unlock over 600 million standard cubic feet per day of natural gas and associated gas liquids by 2030, equivalent to nearly 10% of the UAE's current daily gas consumption. This follows a recent agreement allowing BP and TotalEnergies to take 10% each in the Bab Gas Cap project. ADNOC is accelerating its integrated gas strategy to boost domestic self-sufficiency and expand LNG exports, including a recent $900 million order for four new LNG carriers.