Adnoc Charts New Gas Course Beyond Strait of Hormuz

The Abu Dhabi National Oil Company (Adnoc) is developing a gas strategy beyond the Strait of Hormuz, driven by a desire for self-sufficiency in gas and to reduce reliance on imports.

According to recent developments, Adnoc has taken several key steps towards achieving this goal. On July 21, it made the final investment decision on a $6.2 billion project to develop the gas cap of the Umm Shaif field, which is expected to yield 600 million cubic feet per day of gas.

Additionally, Adnoc has tendered for engineering work on the gas cap of Bab, one of its major onshore fields, with a target production rate of 1.5 million cubic feet daily. The company also launched a platform for global LNG marketing and trading in July, coordinating the activities of Adnoc Gas, Adnoc Trading, and international arm XRG.

The development of the complex Ghasha, Hail, and Dalma offshore fields is another critical component of Adnoc's gas strategy, with a target production rate of 1.8 billion cubic feet daily. Financing for this project was secured in December at $11 billion.