ADNOC awarded $2 billion worth of drilling contracts for Hail and Ghasha sour gas projects.
- Aug 01, 2022, 8:00 PM CDTThe UAE is looking to achieve self-sufficiency in natural gas production.ADNOC awarded the US$2 billion of contracts to its affiliate, ADNOC Drilling.The UAE’s state-owned Abu Dhabi National Oil Co. has awarded $2 billion worth of drilling contracts to spur the development of the Hail and Ghasha sour gas project as part of its plans to help OPEC’s third-biggest producer achieve gas self-sufficiency, and after that to look to exporting the surplus.
In keeping with this idea of self-sufficiency, ADNOC awarded the US$2 billion of contracts to its affiliate, ADNOC Drilling, in which it has a stake. A significant part of the work will be focused on the development of the Ghasha concession, the world’s largest offshore sour gas development, production from which is expected to begin in 2025, with the target being the production of at least 1.5 billion cubic feet per day of gas by 2030.
Just prior to last week’s contract awards for gas development, ADNOC signed a partnership agreement with France’s TotalEnergies that includes cooperation in trading, product supply and carbon capture, utilisation and storage.
This comment came after the signing of the UAE-France Comprehensive Strategic Energy Partnership, which also focuses on securing energy supply for France going forward. Such concerns about the negative effects for France resulting from the staggered bans on Russian energy ahead were by France’s economy minister, Bruno Le Maire, who said: “Let’s prepare for a total cut-off of Russian gas; today that is the most likely option.
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