Latest news with #DasIsland
Zawya
2 hours ago
- Business
- Zawya
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.
Arabian Business
5 hours ago
- Business
- Arabian Business
ADNOC Gas announces $5bn contracts for Rich Gas development project
ADNOC Gas has awarded $5bn in contracts for the first phase of its Rich Gas Development (RGD) Project. This marks the start of ADNOC Gas' largest-ever capital investment, aimed at expanding its gas processing capacity and supporting the UAE's growing market demands. The RGD project is designed to optimise and increase throughput across several key ADNOC Gas facilities, including: Asab (onshore) Buhasa (onshore) Habshan (onshore) Das Island liquefaction facility (offshore) The first phase will focus on expanding the capacity of existing facilities while also developing new gas reservoirs that will enhance liquid gas exports, support gas self-sufficiency in the UAE, and supply essential feedstock to the country's burgeoning petrochemical industry. $5bn ADNOC Gas investment to drive growth The contracts awarded for the first phase of the RGD project are split into three major tranches: The largest, valued at $2.8bn, has been awarded to Wood for the Habshan facility $1.2bn in contracts for the Das Island liquefaction facility $1.1bn for the Asab and Buhasa facilities have been awarded to two consortia—Petrofac and Kent Plc These contract awards are set to boost ADNOC Gas' operational efficiency, enabling the company to meet increasing market demands with enhanced processing capacity. Fatema Al Nuaimi, CEO 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 per cent 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.' Unlocking new gas streams to support the UAE's economic growth Phase 1 of the RGD project is set to optimise ADNOC Gas' existing gas assets while unlocking new and valuable gas streams. This will increase the company's capacity to meet the growing demand for gas and its derivatives. The project is also in line with ADNOC Gas' long-term growth strategy, which focuses on positioning the company for sustainable success between 2025 and 2029. The RGD project will not only support the UAE's economic development but will also contribute to the country's energy security and its goal of achieving gas self-sufficiency. In addition, ADNOC Gas is committed to enhancing its In-Country Value (ICV) by creating hundreds of new, field-based technical positions by 2029, further fuelling the UAE's continued economic progress. Looking further ahead, ADNOC Gas plans to take final investment decisions (FIDs) on two additional phases of the RGD project at Habshan and Ruwais. These phases will further expand production capacity to meet the growing global market demands for natural gas and its by-products.
Zawya
6 hours ago
- Business
- Zawya
ADNOC Gas takes FID on Rich Gas Development project, awards $5bln contracts for Phase 1
ADNOC Gas announced on Tuesday that it has taken a Final Investment Decision (FID) and awarded $5 billion in contracts for the first phase of its Rich Gas Development (RGD) project. 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 ADX-listed company said in a press statement. The EPCM [Engineering, Procurement, Construction and Management] contracts have been awarded in three tranches for Phase 1. The first tranche, valued at $2.8 billion, has been awarded to UK-based 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 the UK's Petrofac; and UAE-based Kent. The press statement said the company intends to take FIDs on two additional phases of the RGD project at Habshan and Ruwais but didnt disclose timelines for the same. 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." The RGD project marks ADNOC Gas's largest-ever capital investment to date and 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, the statement noted. In a separate statement, Petrofac said its scope for Das Island includes building a new inlet facility, two new gas dehydration and compression trains, each with a capacity of 420 million standard cubic feet per day (MMSCFD), and associated infrastructure, and upgrading existing facilities to increase the site's capacity for collecting and transporting raw natural gas. Wood said in a stock exchange statement that its scope includes the delivery of substantial upgrades and debottlenecking solutions to the existing Habshan and Habshan 5 gas processing mega-complexes and pipelines, including brownfield modifications and the installation of new facilities, adding that the scope is due to complete at the end of 2027. (Writing by SA Kader; Editing by Anoop Menon)
Trade Arabia
5 days ago
- Business
- Trade Arabia
Burjeel Holdings to manage Adnoc's new Das Hospital
Burjeel Holdings, a leading super-specialty healthcare provider in the MENA region, listed on the Abu Dhabi Securities Exchange, has signed a contract to operate and manage Adnoc's Das Hospital at Das Island. This agreement supports Adnoc's commitment to strengthening emergency preparedness, improving healthcare accessibility, and promoting community wellbeing at Das Island, a statement said. The new Das Hospital is designed to serve as the primary healthcare and emergency response hub for Das Island residents. With its advanced infrastructure and comprehensive range of services, the facility will provide round-the-clock care for Adnoc's workforce, residents, and emergency medical cases arising from nearby locations. Dr Ghuwaya Al Neyadi, SVP, Group Medical & Wellbeing, ADNOC, said: 'Through this partnership with Burjeel Holdings, Adnoc's state-of-the-art Das Hospital will provide access to top-tier healthcare and emergency services for our employees, reinforcing our Energy for Wellbeing strategy. Our people are our most important asset and Adnoc will continue to prioritize their wellbeing and foster a healthy working environment." Burjeel Holdings will oversee all clinical and administrative functions of the hospital. The facility includes a broad range of outpatient specialties—such as general surgery, internal medicine, family medicine, occupational health, ENT, dental, ophthalmology, and cardiac and pulmonary unit. It also houses a fully equipped emergency department with a minor operating room, licensed pharmacies, and a dedicated blood bank. John Sunil, Group CEO of Burjeel Holdings, said: 'We are proud to strengthen our partnership with Adnoc through the management of the new Das Hospital. This initiative reflects our continued commitment to extending advanced, high-quality healthcare to strategic and remote locations. Burjeel Holdings remains dedicated to clinical excellence, innovation, and agile operations in support of Adnoc's vision for a safer and healthier future.' Inpatient care is supported by 23 beds across male and female quarantine and critical care units, with the capability to manage both acute and chronic cases. The facility is further supported by advanced diagnostic imaging including X-ray, CT scan, and ultrasound, along with a dedicated physiotherapy and rehabilitation unit. Purpose-built for resilience and emergency responsiveness, the hospital includes a decontamination unit, ambulance bays, and a helipad to support medical evacuations from Das Island. Tele-consultation and tele-counselling services, vaccination programs, and health education initiatives will further enhance access and continuity of care. – TradeArabia News Service
Zawya
6 days ago
- Business
- Zawya
Burjeel Holdings to operate, manage ADNOC's Das Hospital
ABU DHABI - Burjeel Holdings has signed a contract to operate and manage ADNOC's Das Hospital at Das Island. This agreement supports ADNOC's commitment to strengthening emergency preparedness, improving healthcare accessibility, and promoting community wellbeing at Das Island. The new Das Hospital is designed to serve as the primary healthcare and emergency response hub for Das Island residents. With its advanced infrastructure and comprehensive range of services, the facility will provide round-the-clock care for ADNOC's workforce, residents, and emergency medical cases arising from nearby locations. Dr. Ghuwaya Al Neyadi, SVP, Group Medical & Wellbeing, ADNOC, said, 'Through this partnership with Burjeel Holdings, ADNOC's state-of-the-art Das Hospital will provide access to top-tier healthcare and emergency services for our employees, reinforcing our Energy for Wellbeing strategy. Our people are our most important asset and ADNOC will continue to prioritise their wellbeing and foster a healthy working environment." Burjeel Holdings will oversee all clinical and administrative functions of the hospital. The facility includes a broad range of outpatient specialties—such as general surgery, internal medicine, family medicine, occupational health, ENT, dental, ophthalmology, and cardiac and pulmonary unit. It also houses a fully equipped emergency department with a minor operating room, licensed pharmacies, and a dedicated blood bank. Inpatient care is supported by 23 beds across male and female quarantine and critical care units, with the capability to manage both acute and chronic cases. The facility is further supported by advanced diagnostic imaging including X-ray, CT scan, and ultrasound, along with a dedicated physiotherapy and rehabilitation unit.
