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LBCI Lebanon
Adnoc invests $6.2B in UAE gas field
The article discusses the Emirati ADNOC company's announcement of investing $6.2 billion to develop the gas cap at the "Am Shiff" field in Abu Dhabi, one of the most important oil fields in the UAE. The aim of this project is to expand natural gas production capacities, with expectations to contribute more than 600 million cubic feet per day of gas and associated condensates, representing about 10% of local consumption. Production is expected to commence by 2030. This initiative is part of ADNOC’s strategy to strengthen its global share in the liquefied natural gas sector, in collaboration with international partners such as TotalEnergies and CNPC. The investment comes roughly a month after the UAE granted concessions for the development of other gas fields, aiming to increase gas production and support the rising global demand.
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