ADNOC Gas awards $5bln in contracts for first phase of its Rich Gas Development Project
ADNOC Gas Plc and its subsidiaries (together referred to as 'ADNOC Gas' or the 'Company') announced today it has taken a FID and awarded $5 billion in contracts for the first phase of its Rich Gas Development (RGD) Project, marking a key milestone in the company's largest-ever capital investment.
The contracts involve expanding key processing units to increase throughput and improve operational efficiency across four ADNOC Gas Facilities: Asab, Buhasa, Habshan (Onshore), and the Das Island liquefaction facility (Offshore). The company intends to take FIDs on two additional phases of the RGD project at Habshan and Ruwais to enable the delivery of greater production capacity to meet growing market demands.
The RGD project will enable the development of new gas reservoirs, which are key to boosting liquid gas exports, supporting gas self-sufficiency in the UAE, and providing essential feedstock to the country's growing petrochemical industry.
Engineering, Procurement, and Construction Management (EPCM) contracts have been awarded in three tranches for phase 1. The first tranche, valued at $2.8 billion, has been awarded to Wood for the Habshan facility. The remaining two tranches – $1.2 billion for the Das Island liquefaction facility and $1.1 billion for the Asab and Buhasa facilities – have been awarded to two consortia: Petrofac; and Kent Plc.
Fatema Al Nuaimi, Chief Executive Officer of ADNOC Gas, said: 'The FID and contract awards for the first phase of the Rich Gas Development project mark a significant milestone in ADNOC Gas' strategy to deliver +40% EBITDA growth between 2023 and 2029. This strategic investment is expected to deliver significant new value for our shareholders and enable continued sustainable growth for the company, our employees, and the UAE.'
Phase 1 of the RGD project focuses on optimizing and debottlenecking existing gas assets while unlocking new and valuable gas streams. As part of ADNOC Gas' long-term strategy, which is focused on growth and futureproofing its business, the RGD project aligns with the company's vision to deliver important growth initiatives between 2025 and 2029. Additionally, the RGD project highlights ADNOC Gas' commitment to enhancing In-Country Value (ICV), with plans to create hundreds of new, field-based technical positions by 2029, further contributing to the UAE's economic growth.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Gulf Today
an hour ago
- Gulf Today
Space sector key to future and sustainable growth in UAE, says Sheikh Hamdan
Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, and Chairman of the Supreme Space Council, met with representatives of leading space sector startups operating in the UAE. The meeting is part of Sheikh Hamdan's keenness to advance the national space ecosystem and further promote its role as a global leader in the space industry. Sheikh Hamdan underscored the importance of strong partnerships and strategic collaboration between the public and private sectors as a foundation for developing an advanced and innovative space ecosystem. He highlighted that continuous innovation and long-term investment in future technologies are essential to this progress. Sheikh Hamdan also expressed confidence in the capabilities of UAE-based companies and entrepreneurs, noting their crucial role in driving the growth of the local space industry and strengthening the country's position as a leading global hub in this strategic field. Sheikh Hamdan also highlighted the space sector as a vital driver of the future and sustainable economic growth. He stressed the UAE's ongoing efforts to build a supportive environment that fosters the growth of national companies and unlock new opportunities for investment and innovation, boosting the country's global competitiveness and leadership in space. The private sector is leading the space scene in the UAE, reaffirming the maturity of national investments that have been established over the past three decades. A number of the UAE-based companies took part in the meeting, representing a wide range of specialisations, including locally developed Internet of Things (IoT) solutions, artificial intelligence and remote sensing, commercial space ecosystem development, edge computing for robotics applications, high-resolution Earth observation via microsatellites, as well as AI systems, robotics, interactive simulation technologies, and reusable space launch systems. Participants shared insights into their current projects, long-term strategies, and future investment plans in support of the national economy. Discussions focused on strengthening public-private collaboration, expanding operations both locally and internationally, and exploring promising opportunities within the UAE's growing space sector—highlighting the private sector's central role in shaping a globally competitive and integrated space industry. Company representatives reaffirmed their commitment to the UAE's space ambitions and outlined plans to expand their operations within the country. They praised the UAE's flexible regulatory framework and advanced infrastructure as key enablers of sustained investment. Attendees also welcomed initiatives such as the Space Economic Zones Programme, which they said play a vital role in enabling collaboration and fostering long-term, sustainable growth across the space ecosystem. The meeting was attended by Dr Ahmad Belhoul Al Falasi, Minister of Sports, Secretary-General of the Supreme Space Council, and Chairman of the Board of Directors of the UAE Space Agency; Khalid Al Awadi, founder of Rimal; Ibrahim Al Obaidly, founder of Ardhiyat Al Ibdaa Information Solutions; David Critchley, CEO of 4EI; Dr Hamdullah Mohib, CEO of Marlan Space; Alex Lapir, CEO of Aliensense; Abdulhalim Jallad, co-founder of Oryx Space; and Stan Rudenko, CEO of Aspire Space Technology. WAM
Sharjah 24
an hour ago
- Sharjah 24
Hamdan bin Zayed receives Ambassador of Russian Federation to UAE
Discussed bilateral relations and explored avenues to strengthen and expand cooperation During the meeting, they discussed bilateral relations and explored avenues to strengthen and expand cooperation across political, economic, and cultural fields. The discussions focused on fostering mutual interests and reinforcing ties between the two nations. Praised the robust relations between the UAE and Russia His Highness Sheikh Hamdan praised the robust relations between the UAE and Russia, emphasising the commitment of the UAE's leadership, under President His Highness Sheikh Mohamed bin Zayed Al Nahyan, to bolstering cooperation. He noted that such partnerships contribute to the UAE's global standing and its efforts to build international relations based on mutual respect and constructive collaboration. Appreciation For his part, Ambassador Zabirov expressed his appreciation for the steady progress in UAE-Russia relations, commending the UAE's regional and international role in promoting peace, security, and stability. The meeting was attended by several Sheikhs and officials.
Khaleej Times
2 hours ago
- Khaleej Times
Photos: Umm Al Quwain Crown Prince holds wedding reception at Amiri Diwan
On Tuesday, Sheikh Saud bin Rashid Al Mu'alla, Member of the Supreme Council and Ruler of Umm Al Quwain, hosted a reception on the occasion of the marriage contract of the Crown Prince. Sheikh Rashid bin Saud bin Rashid Al Mu'alla has married the daughter of Sheikh Mohammed bin Hamdan bin Hamdan Al Nahyan. Sheikh Rashid is also the Chairman of the Executive Council and holds a leading role in the emirate's governance and development. The event was held in the presence of Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman, and Sheikh Ahmed bin Saud bin Rashid Al Mu'alla, Deputy Ruler of Umm Al Quwain. The Ruler of Umm Al Quwain received congratulations and blessings from the attending sheikhs and guests on the occasion. Take a look at some photographs from the evening: Among those who attended the reception were His Excellency Sheikh Humaid bin Ahmed Al Mu'alla; Sheikh Khalid bin Rashid Al Mu'alla, Head of the Amiri Diwan; Sheikh Maktoum bin Rashid Al Mu'alla; Sheikh Saif bin Rashid Al Mu'alla, Chairman of the Department of Economic Development; Sheikh Abdulaziz bin Humaid Al Nuaimi, Chairman of the Department of Land and Real Estate Regulation in Ajman; Sheikh Rashid bin Humaid Al Nuaimi, Chairman of the Municipality and Planning Department in Ajman; and a number of other sheikhs.
