The United Arab Emirates’ state oil giant Adnoc is to invest $6.2 billion in an Abu Dhabi natural gas development project, AFP reports.
In a statement, Adnoc said it took the $6.2 billion final investment decision to develop the offshore Umm Shaif Gas Cap with France’s TotalEnergies, Italy’s Eni and China National Petroleum Corporation.
The investment is expected to produce more than 600 million standard cubic feet of gas per day from 2030, alongside associated gas liquids, the company said.
In May, the UAE announced its main gas-processing complex, the Habshan site in the capital Abu Dhabi, would not return to full capacity until next year, after it was targeted in the Middle East war.
