Adnoc Gas awards contract for processing project

Abu Dhabi National Oil Company (Adnoc) subsidiary Adnoc Gas has awarded an engineering and design contract for its new gas processing facilities at Bab Gas Cap (BGC) to Australia’s Worley Engineering.

Part of the UAE’s gas self-sufficiency drive, the new facilities will increase Adnoc Gas’s current processing capacity by 20 percent or 1.8 billion standard cubic feet per day, the company said in a filing on the Abu Dhabi bourse on Wednesday.

The final investment decision on the project is expected in 2026.

Adnoc will simultaneously develop oil and gas within the field for a potential production of 1.5 billion cubic feet per day of gas and 80 million barrels per day of condensate.

The financial details of the deal were not disclosed.

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Last month, a media report said that Adnoc intends to sell an additional 3 to 5 percent of Adnoc Gas.

In March 2023, Adnoc raised $2.5 billion from the initial public offering of its gas business, recording the largest-ever listing on the Abu Dhabi Securities Exchange.