Adnoc invests $6.2B in Am Shell field

Adnoc, the UAE-based company, has announced an investment of 22.6 billion dirhams (approximately 6.2 billion US dollars) in the development of the Umm Al Shiff field. The goal is to increase natural gas production by more than 600 million cubic feet per day, which accounts for around 10% of the country's domestic consumption, thereby enhancing energy security in the UAE. This decision aligns with the company's strategy to accelerate growth in the gas sector to meet the rising global demand for natural gas and to establish the UAE as a trusted destination for investment in the LNG sector. The project includes the development of offshore infrastructure and aims to commence production by 2030, along with agreements to expand output and promote gas on a global scale.

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