14 Hrs
Source:
Sharjah24
Adnoc invests 22.6B in Umm Shaif gas cap
Adnoc, the Emirati company, announced an investment of 22.6 billion dirhams (6.2 billion dollars) in developing the gas cap of the Umm Shaif field in Abu Dhabi, aiming to increase natural gas and associated liquids production by over 600 million standard cubic feet per day, which is equivalent to approximately 10% of the local consumption. Production from the project is expected to commence by 2030, in order to enhance energy security and support economic growth and expansions in the liquefied natural gas sector, through cooperation with international partners such as Total, Eni, and CNPC. This investment is part of Adnoc's plan to accelerate the exploitation of gas resources in the UAE and meet the global growing demand for low-carbon energy supplies.
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