ADNOC has approved a final investment of $6.2 billion to develop the offshore Umm Shaif Gas Cap, marking another step in the UAE’s strategy to expand natural gas production and strengthen its energy sector.
The state-owned energy company said on Tuesday the project will be developed in partnership with France’s TotalEnergies, Italy’s Eni and China National Petroleum Corporation.
The development is expected to produce more than 600 million standard cubic feet of natural gas per day from 2030, in addition to associated gas liquids.
UAE Minister of Industry and Advanced Technology and ADNOC Group CEO Sultan Ahmed Al Jaber said the investment supports the company’s integrated gas strategy and will help unlock more of the country’s natural gas resources.
He added that the project will also strengthen the UAE’s liquefied natural gas (LNG) capabilities as global demand for natural gas continues to grow.
The announcement comes as Gulf energy producers continue to navigate regional security challenges that have affected hydrocarbon production and export routes. Earlier this year, the UAE said its Habshan gas-processing complex in Abu Dhabi would not return to full operating capacity until next year after sustaining damage during the regional conflict.
