According to CNBC, Abu Dhabi National Oil Company will invest $6.2 billion to develop the Umm Shaif Gas Cap, an offshore oil and gas field, as it seeks to expand natural gas production and liquefied natural gas exports. The field is being developed with TotalEnergies, Eni and China National Petroleum Corporation, and ADNOC said it will unlock more than 600 million standard cubic feet of natural gas and associated gas liquids per day, equal to nearly 10% of the UAE's current daily gas consumption. Production is expected to start by 2030.
ADNOC CEO Sultan Ahmed Al Jaber said the company is accelerating its integrated gas strategy to harness the UAE's gas resources and expand its global LNG platform as demand for natural gas rises. ADNOC is targeting 47 million metric tons of LNG capacity per annum by 2035 as it expands production, trading and export capabilities.
ADNOC to invest $6.2 billion in Umm Shaif Gas Cap development
2026-07-21 06:52:34
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