ADNOC Gas Awards $5 Billion In Contracts For Rich Gas Development Project

ADNOC Gas said on Tuesday it had taken a final investment decision on the first phase of its Rich Gas Development (RGD) Project, awarding $5 billion in contracts to expand and improve efficiency at the project.

The contracts involve expanding processing units to boost throughput and improve operational efficiency across its Asab, Buhasa, Habshan onshore facilities and its offshore Das Island liquefaction facility, the company said in a statement.

The contracts were awarded to British oilfield services firms Wood Group and Petrofac, and to Kent.

ADNOC Gas, a subsidiary of the United Arab Emirates' state energy company, became operational at the start of 2023 as ADNOC consolidated its gas processing, LNG and industrial gas operations into one company.

The unit plans to take final investment decisions on two additional phases of the RGD project at Habshan and Ruwais to boost production capacity, it said, without providing a specific timeline.

(Reuters)