QatarEnergy and Adnoc Agree on Bab Gas Project

BP has signed a concession agreement with Adnoc and its partners to develop the "Bab Gas Cap" project in the UAE. BP will acquire a 10% stake in the project, increasing daily natural gas production by up to 1.5 billion cubic feet through the Bab Al Bareen field, to support the domestic market and liquefied natural gas (LNG) export plans. Adnoc will retain a 60% share of the project, with several companies such as Total and Enppi participating. BP will take on the role of the main operator of the assets in the field, which is considered one of the largest onshore fields in Abu Dhabi.

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