Dubai, UAE — Abu Dhabi National Oil Company (ADNOC) has approved a final investment decision (FID) worth $6.2 billion to develop the Umm Shaif Gas Cap project with partners TotalEnergies, Eni and China National Petroleum Corporation (CNPC), state news agency WAM reported on Tuesday.
The project is expected to produce more than 600 million standard cubic feet per day (scfd) of natural gas and associated gas liquids by 2030, equivalent to nearly 10 percent of the UAE’s current daily gas consumption, ADNOC said.
The investment is part of ADNOC’s strategy to expand gas production and its liquefied natural gas (LNG) portfolio to meet rising domestic and international demand, including growing energy needs from industrial development and artificial intelligence infrastructure.
The company said the project would strengthen the UAE’s energy security and reinforce its role as a reliable global gas supplier.
The investment follows the award of the Bab Gas Cap concession, which is expected to unlock an additional 1.5 billion scfd of natural gas and associated gas liquids.
ADNOC also said the project supports its target of reaching 47 million tonnes per annum of combined marketable LNG capacity by 2035 through its global LNG marketing and trading platform based in Abu Dhabi Global Market.
The FID includes three engineering, procurement and construction contracts worth a combined $5.1 billion awarded to consortiums of UAE and international contractors.
The development also includes a $365 million programme covering 14 wells and integrated drilling services, to be executed by ADNOC Drilling over 18 months using three existing rigs, WAM reported.
