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UAE to Invest $6.2 Billion in Abu Dhabi's Umm Shaif Gas Cap Project

ADNOC, the UAE's state oil giant, has made a final investment decision to develop the Umm Shaif Gas Cap with international partners.

By Staff Correspondent
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UAE to invest $6.2 bn in Abu Dhabi gas project | Business
BSS

The United Arab Emirates' state oil company, ADNOC, has announced a $6.2 billion investment to develop the Umm Shaif Gas Cap, an offshore natural gas project in Abu Dhabi. The project, in partnership with France's TotalEnergies, Italy's Eni, and China National Petroleum Corporation, is expected to produce over 600 million standard cubic feet of gas per day from 2030, alongside associated gas liquids. ADNOC aims to accelerate its integrated gas strategy and harness the UAE's vast gas resources, expanding its LNG platform as global demand for natural gas continues to rise.

Industry minister and ADNOC group's chief executive, Sultan Ahmed Al Jaber, highlighted the strategic importance of the investment. The move comes amid challenges faced by hydrocarbon-rich Gulf nations in boosting their output following Iranian attacks and the closure of the Strait of Hormuz, a vital waterway for energy exports.

In May, the UAE announced that its main gas-processing complex, the Habshan site in Abu Dhabi, would not return to full capacity until next year after being targeted in the Middle East war. This new investment is part of ADNOC's efforts to enhance the UAE's energy security and meet rising global demand for natural gas.

The development of the Umm Shaif Gas Cap is expected to significantly contribute to the UAE's energy portfolio and strengthen its position as a major player in the global energy market. The project underscores ADNOC's commitment to investing in sustainable and reliable energy sources.

Source: BSS

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