ADNOC Gas Awards $8.2 Billion for Rich Gas Development Project Expansion
ADNOC Gas has accelerated one of the world's largest gas-processing growth programs by awarding $8.2 billion in engineering, procurement and construction (EPC) contracts for its Rich Gas Development project.
The awards include a $3.9 billion Phase 2 contract to Wison Engineering and a $4.3 billion Phase 3 contract to Tecnimont. Combined with the $5 billion Phase 1 investment announced in 2025, total investment in the RGD program now stands at $13.2 billion.
ADNOC Gas has increased its long-term growth outlook following the investment, raising its targeted EBITDA growth to 60% by 2030 compared with 2023 levels. The company expects to invest approximately $28 billion between 2026 and 2030 across its portfolio of gas growth projects.
CEO Fatema Al Nuaimi described the project as a 'defining moment' for ADNOC Gas, saying it will expand natural gas processing capacity and support the UAE's growing downstream and petrochemical sectors. Phase 2 will add a new gas processing train at the Habshan complex, while Phase 3 will add a new natural gas liquids (NGL) fractionation train at Ruwais.
ADNOC Gas has also reported second-quarter net income of $665 million, exceeding its guidance range despite continued disruptions to maritime traffic through the Strait of Hormuz. The company said gas supply at the Habshan complex has already recovered to 85%, ahead of schedule following security-related incidents earlier this year.