ADNOC Unveils a New $6.2 Billion Investment
ADNOC is growing its gas strategy with $6.2 billion worth on investments to develop the Umm Shaif gas cap project in Abu Dhabi amid higher global demand for low-carbon energy. The investment will unlock more than 600 million cubic feet per day of natural gas and liquids. ADNOC said that this is equivalent to almost 10% of the UAE’s current daily gas consumption. They awarded three engineering and construction packages for large offshore infrastructure development, as well as 14 well drilling services to consortiums including major UAE and international contractors. This is to be delivered by ADNOC over 18 months.
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