"ADNOC Gas" It is established for contracts of $ 5 billion for the first stage of "Rich gas development project"

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Abu Dhabi, June 10 / WAM / “ADNOC Gas BLC” announced today the decision to make the final investment and award contracts worth $ 5 billion for the first stage of the “Rich Gas Development Project”. This step represents an important achievement for the company and the largest capital investment implemented ever.

Contracts include the expansion of major gas treatment units in order to increase productivity and raise the efficiency of operational operations in four gas processing facilities belonging to the company are the “Asab Facility”, “Bouasa Facility”, “Habshan (Wild) Facility”, and the Das Island facility for gas (maritime).

The company intends to make the final investment decision for two additional stages of the “Rich Gas Development Project” in “Habshan” and “Al -Ruwais” with the aim of enabling increasing the production capacity to contribute to meeting the growing needs of the market.

The project aims to develop new gas reservoirs, which contributes an important role in enhancing liquefied gas exports, supporting efforts to achieve self -sufficiency in gas in the UAE, and providing the basic raw materials necessary for the growing petrochemical industry in the country.

The implementation contracts for engineering and purchases and the management of construction operations (EPCM) were awarded in three packages for the first stage of the project where the first package of $ 2.8 billion in the “Habshan Gas Laying Facility” was awarded to the company “Wood”, while the remaining two packages were awarded at a value of $ 1.2 billion for the first for the “Das Island facility for gas liquefaction”, and the second with a value of $ 1.1 billion For my facilities, “Asab” and “Boussa”, on a coalition of companies that includes “Petrovac” and “Kent BLC”.

On this occasion, Fatima Al -Nuaimi, CEO of ADNOC Gas Company, said that making the final investment decision and awarding contracts for the first stage of the “Rich Gas Development Project” represents an important achievement for the “ADNOC Gas” strategy that aims to increase profits before deducting benefits, taxes, destruction and consumption by more than 40% during the period between 2023 and 2029, and it is expected that this strategic investment will achieve value A great additional for the company’s shareholders and contributes to enabling the sustainable growth of the UAE and the company and its cadres.

The first phase of the “rich gas project” focuses on improving the current gas assets, raising the level of efficiency and benefiting from new and rich gas sources, and as part of a long -term “ADNOC Gas” strategy, which focuses on growth and expansion and ensuring that its business is accompanied by the future, the “rich gas project” is in line with the company’s vision aimed at implementing a number of initiatives and projects of important growth and expansion between 2025 and 2029, in addition to This, the project highlights the “ADNOC Gas” commitment to enhancing national content, and the company’s plans to create hundreds of new specialized technical job opportunities by 2029, which contributes more to supporting economic growth in the country.