Baker Hughes (NASDAQ: BKR), an energy technology company, announced Friday two awards from Vår Energi that expand its regional presence in the North Sea for exploration logging, well intervention technology and subsea production systems.
The first contract, a nine-year engagement, is a testament to Baker Hughes’ heightened well intervention capabilities gained through the strategic acquisition of Altus Intervention completed in April 2023. In addition to the interventions scope, Baker Hughes will supply all exploration logging solutions to help Vår Energi further develop their prospects in the Norwegian Continental Shelf. The agreement enables a seamless integration of Baker Hughes’ market-leading technologies into the wider operations of Vår Energi, enabling a powerful impact to their carbon reduction efforts.
The second contract with Vår Energi is to deliver a bespoke Balder field vertical tree system, a Baker Hughes technology selected for the complexities of this field.
This agreement spans 15 years, signifying a trusted long-term Future Agreement (FA) in one of Vår Energi’s core focus areas, the Balder field. The contract includes the support for existing Balder legacy wells and any future developments in the Balder area. This pivotal engagement is anchored by Baker Hughes’ distinct Norway delivery model, a multimodal site in Dusavik, Stavanger, that ensures a forward-looking local future for Norway’s oil and gas industry.
“Baker Hughes has an extensive and successful history of creating value for customers in Norway and the North Sea,” said Maria Claudia Borras, executive vice president, Oilfield Services & Equipment at Baker Hughes. “The two long-term contract awards from Vår Energi enable us to deploy our superior portfolio not only in well intervention, but also in exploration logging and subsea production. Combining our technology, our exceptional regional expertise, and our dedication to a world-class customer experience ensures successful outcomes for both companies.”
Friday 29 September 2023
Thursday 28 September 2023
TechnipFMC Awarded Large iEPCI™ Contract for Equinor’s Rosebank Development
TechnipFMC (NYSE: FTI) has been awarded a large integrated Engineering, Procurement, Construction, and Installation (iEPCI™) contract by Equinor for its Rosebank project, west of the Shetland Isles in the United Kingdom.
The contract covers the manufacture and installation of subsea production systems, flexible and rigid pipe, and umbilicals, as well as connection to the host facility. The project will use pre-qualified equipment, which will accelerate the delivery schedule.
Jonathan Landes, President, Subsea at TechnipFMC, commented: “We have collaborated with Equinor on Rosebank since the concept stage in 2019. Using a single interface, we tied together all the work scopes, leveraging our iEPCI™ model to reduce project complexity. We are proud that our track record and proven technology have earned Equinor’s confidence that we will deliver this significant project.”
Umbilicals, rigid pipe, and the majority of the subsea production systems will be designed, engineered and manufactured in-country using TechnipFMC’s facilities and network of trusted local suppliers, then installed by TechnipFMC. Together, these activities will contribute significantly to value and job creation across the United Kingdom, which was an important factor in Equinor’s selection of the Company for this award. TechnipFMC has committed approximately $500 million of the total award to local value creation.
The contract covers the manufacture and installation of subsea production systems, flexible and rigid pipe, and umbilicals, as well as connection to the host facility. The project will use pre-qualified equipment, which will accelerate the delivery schedule.
Jonathan Landes, President, Subsea at TechnipFMC, commented: “We have collaborated with Equinor on Rosebank since the concept stage in 2019. Using a single interface, we tied together all the work scopes, leveraging our iEPCI™ model to reduce project complexity. We are proud that our track record and proven technology have earned Equinor’s confidence that we will deliver this significant project.”
Umbilicals, rigid pipe, and the majority of the subsea production systems will be designed, engineered and manufactured in-country using TechnipFMC’s facilities and network of trusted local suppliers, then installed by TechnipFMC. Together, these activities will contribute significantly to value and job creation across the United Kingdom, which was an important factor in Equinor’s selection of the Company for this award. TechnipFMC has committed approximately $500 million of the total award to local value creation.
Wednesday 27 September 2023
Rosebank field to progress in the UK
Equinor and Ithaca Energy have taken the final investment decision to progress Phase 1 of the Rosebank development on the UK Continental Shelf (UKCS), investing USD 3.8 billion.
The North Sea Transition Authority (NSTA) granted consent for the development of the field on 27 September.
“Developing the Rosebank field will allow us to grow our position as a broad energy partner to the UK, while optimising our oil and gas portfolio, and increasing energy supply in Europe. Rosebank provides an opportunity to develop a field within the UK Continental Shelf which will bring significant benefits to Scotland and the wider UK,” says Geir Tungesvik, executive vice president Projects, Drilling and Procurement at Equinor.
The Rosebank field is located around 130 kilometres north-west of Shetland in approximately 1,100 metres of water depth. Total recoverable resources are estimated at around 300 million barrels of oil, with Phase 1 targeting estimated 245 million barrels of oil.
The field will be developed with subsea wells tied back to a redeployed Floating Production Storage and Offloading vessel (FPSO), with start-up planned in 2026-2027. Oil will be transported to refineries by shuttle tankers, while gas will be exported through the West of Shetland Pipeline system to mainland Scotland.
“We are pleased to move forward with the Rosebank field together with Ithaca Energy,” says Philippe Mathieu, executive vice president for Exploration and Production International.
“This development further strengthens our international business, and we look forward to collaborating closely with our partner and suppliers to develop and operate Rosebank with the lowest possible carbon footprint while bringing the maximum value to society in the shape of UK investment, local jobs and energy security,” says Mathieu.
The Rosebank oil and gas field is being developed in compliance with the North Sea Transition Deal, an agreement between the UK government and the offshore industry. It acknowledges that whilst there is a continued, though over time reducing need for oil and gas, the remaining demand for oil and gas must be met with the lowest emissions possible.
The FPSO has been designed to be electrification-ready and Equinor is collaborating with government and industry to pursue a regional solution for power from shore to Rosebank and nearby fields to minimise carbon emissions from production.
According to an independent socioeconomic report by Wood Mackenzie and Voar Energy, Rosebank is estimated to create £8.1 billion of total direct investment over the lifetime of the field, of which 78% is likely to be invested in UK-based businesses. It is expected to support around 1,600 jobs during the height of the construction phase of the project, and it will continue to support approx. 450 UK-based jobs during the lifetime of the field.
"We know that the world needs to transition to new, cleaner energy systems and our broad energy investments into the UK support this. And while we do this there is going to be a continued need for oil and gas, which currently meets 76% of the UK’s energy needs. Our decision to progress the Rosebank development is the result of work and collaboration by our employees, partners, government, regulators, and other stakeholders to ensure that this development is able to help meet this ongoing need, with the lowest carbon footprint possible,” says Arne Gürtner, senior vice president Upstream at Equinor in the UK.
TechnipFMC has been awarded an integrated engineering, procurement, construction and installation (iEPCI™) contract for subsea production systems, umbilicals, risers and flowlines with an estimated value of around USD 500 million for the local content part. TechnipFMC has estimated that more than half of the contract value will be generated from local activities across the UK, with a large portion in Scotland.
Project management and engineering activities will be performed mainly from Aberdeen and tree systems will be manufactured in Dunfermline. Umbilicals will be produced in Newcastle, pipelines will be fabricated in Evanton and the main vessel mobilisation site will also be in the UK. In addition, several other fabrication sites in the UK will contribute to the project.
Odfjell Drilling has been awarded a rig contract, with an estimated value of USD 328 million including integrated services, modifications and options. The Deepsea Atlantic mobile rig is scheduled to start a seven-well drilling campaign in the second quarter of 2025, and in addition four single well options are included.
Altera has been awarded a bareboat charter and an operations and maintenance contract related to the Petrojarl Knarr FPSO which is set to be deployed on the Rosebank field on a firm contract for nine years, and options up to a total of 25 years.
Equinor has been a reliable energy partner to the UK for 40 years, providing a stable supply of oil and gas, developing the UK’s offshore wind industry, and pioneering solutions to decarbonise the UK economy.
Today, Equinor supplies 29% of the UK’s gas, and 15% of the UK’s oil. Equinor is currently working with government in developing plans to invest over £10 billion in the UK by 2030, in total creating over 5,000 high-quality jobs. For every £1 we plan to invest in the UK in oil and gas we aim to spend over £2 in renewables, CO2 capture and storage, and hydrogen.
The North Sea Transition Authority (NSTA) granted consent for the development of the field on 27 September.
“Developing the Rosebank field will allow us to grow our position as a broad energy partner to the UK, while optimising our oil and gas portfolio, and increasing energy supply in Europe. Rosebank provides an opportunity to develop a field within the UK Continental Shelf which will bring significant benefits to Scotland and the wider UK,” says Geir Tungesvik, executive vice president Projects, Drilling and Procurement at Equinor.
The Rosebank field is located around 130 kilometres north-west of Shetland in approximately 1,100 metres of water depth. Total recoverable resources are estimated at around 300 million barrels of oil, with Phase 1 targeting estimated 245 million barrels of oil.
The field will be developed with subsea wells tied back to a redeployed Floating Production Storage and Offloading vessel (FPSO), with start-up planned in 2026-2027. Oil will be transported to refineries by shuttle tankers, while gas will be exported through the West of Shetland Pipeline system to mainland Scotland.
“We are pleased to move forward with the Rosebank field together with Ithaca Energy,” says Philippe Mathieu, executive vice president for Exploration and Production International.
“This development further strengthens our international business, and we look forward to collaborating closely with our partner and suppliers to develop and operate Rosebank with the lowest possible carbon footprint while bringing the maximum value to society in the shape of UK investment, local jobs and energy security,” says Mathieu.
The Rosebank oil and gas field is being developed in compliance with the North Sea Transition Deal, an agreement between the UK government and the offshore industry. It acknowledges that whilst there is a continued, though over time reducing need for oil and gas, the remaining demand for oil and gas must be met with the lowest emissions possible.
The FPSO has been designed to be electrification-ready and Equinor is collaborating with government and industry to pursue a regional solution for power from shore to Rosebank and nearby fields to minimise carbon emissions from production.
According to an independent socioeconomic report by Wood Mackenzie and Voar Energy, Rosebank is estimated to create £8.1 billion of total direct investment over the lifetime of the field, of which 78% is likely to be invested in UK-based businesses. It is expected to support around 1,600 jobs during the height of the construction phase of the project, and it will continue to support approx. 450 UK-based jobs during the lifetime of the field.
"We know that the world needs to transition to new, cleaner energy systems and our broad energy investments into the UK support this. And while we do this there is going to be a continued need for oil and gas, which currently meets 76% of the UK’s energy needs. Our decision to progress the Rosebank development is the result of work and collaboration by our employees, partners, government, regulators, and other stakeholders to ensure that this development is able to help meet this ongoing need, with the lowest carbon footprint possible,” says Arne Gürtner, senior vice president Upstream at Equinor in the UK.
TechnipFMC has been awarded an integrated engineering, procurement, construction and installation (iEPCI™) contract for subsea production systems, umbilicals, risers and flowlines with an estimated value of around USD 500 million for the local content part. TechnipFMC has estimated that more than half of the contract value will be generated from local activities across the UK, with a large portion in Scotland.
Project management and engineering activities will be performed mainly from Aberdeen and tree systems will be manufactured in Dunfermline. Umbilicals will be produced in Newcastle, pipelines will be fabricated in Evanton and the main vessel mobilisation site will also be in the UK. In addition, several other fabrication sites in the UK will contribute to the project.
Odfjell Drilling has been awarded a rig contract, with an estimated value of USD 328 million including integrated services, modifications and options. The Deepsea Atlantic mobile rig is scheduled to start a seven-well drilling campaign in the second quarter of 2025, and in addition four single well options are included.
Altera has been awarded a bareboat charter and an operations and maintenance contract related to the Petrojarl Knarr FPSO which is set to be deployed on the Rosebank field on a firm contract for nine years, and options up to a total of 25 years.
Equinor has been a reliable energy partner to the UK for 40 years, providing a stable supply of oil and gas, developing the UK’s offshore wind industry, and pioneering solutions to decarbonise the UK economy.
Today, Equinor supplies 29% of the UK’s gas, and 15% of the UK’s oil. Equinor is currently working with government in developing plans to invest over £10 billion in the UK by 2030, in total creating over 5,000 high-quality jobs. For every £1 we plan to invest in the UK in oil and gas we aim to spend over £2 in renewables, CO2 capture and storage, and hydrogen.
Wednesday 13 September 2023
Ithaca Energy To Acquire Remaining 30% Working Interest In Cambo
Ithaca Energy (LON: ITH) is pleased to announce that the Group has agreed, subject to regulatory approval, to acquire the remaining 30% stake in Cambo from Shell U.K. Limited (“Shell”) taking Ithaca Energy’s stake in Cambo to 100%.
The acquisition, which has minimal near-term cost exposure, will provide Ithaca Energy with full control over the progression of the future development of Cambo, the second largest undeveloped oil and gas discovery in the UK North Sea.
The consideration, in accordance with the previously announced terms dated 5 May, is payable on the earlier of (i) first oil; and (ii) the receipt of proceeds of any subsequent sale of a working interest in Cambo by Ithaca Energy; and is subject to Ithaca Energy proceeding with FID and/or the NSTA providing development consent.
Alan Bruce, Chief Executive Officer, Ithaca Energy, commented: “We are pleased to conclude the marketing process with Shell and to take full ownership of the Cambo development. Our primary focus continues to be the delivery of our BUY, BUILD and BOOST strategy, including the future development of Cambo, subject to fiscal conditions. We believe that Cambo has an important role to play in providing energy security and economic benefit to the UK, while reducing overall emissions intensity.”
Notes:
The Cambo field is the second largest undeveloped oil and gas discovery in the UK North Sea, located in the West of Shetland region. The development provides Ithaca Energy with long term production growth at a low expected unit operating cost per barrel. With its modern, energy efficient design and potential for electrification, Cambo could be one of the lowest-emission intensity assets in the North Sea. The field is expected to produce at less than half the CO2 intensity than the average UK field, enabled by the FPSO design which includes features such as being fully electrification ready (subject to grid connection availability), zero routine flaring and the Sevan FPSO hull design reducing power demand.
The acquisition, which has minimal near-term cost exposure, will provide Ithaca Energy with full control over the progression of the future development of Cambo, the second largest undeveloped oil and gas discovery in the UK North Sea.
The consideration, in accordance with the previously announced terms dated 5 May, is payable on the earlier of (i) first oil; and (ii) the receipt of proceeds of any subsequent sale of a working interest in Cambo by Ithaca Energy; and is subject to Ithaca Energy proceeding with FID and/or the NSTA providing development consent.
Alan Bruce, Chief Executive Officer, Ithaca Energy, commented: “We are pleased to conclude the marketing process with Shell and to take full ownership of the Cambo development. Our primary focus continues to be the delivery of our BUY, BUILD and BOOST strategy, including the future development of Cambo, subject to fiscal conditions. We believe that Cambo has an important role to play in providing energy security and economic benefit to the UK, while reducing overall emissions intensity.”
Notes:
The Cambo field is the second largest undeveloped oil and gas discovery in the UK North Sea, located in the West of Shetland region. The development provides Ithaca Energy with long term production growth at a low expected unit operating cost per barrel. With its modern, energy efficient design and potential for electrification, Cambo could be one of the lowest-emission intensity assets in the North Sea. The field is expected to produce at less than half the CO2 intensity than the average UK field, enabled by the FPSO design which includes features such as being fully electrification ready (subject to grid connection availability), zero routine flaring and the Sevan FPSO hull design reducing power demand.
Shenzi North Production Start-Up
The Woodside-operated Shenzi North project has commenced production in the deepwater US Gulf of Mexico.
Shenzi North is a two-well subsea tieback that takes advantage of the existing Shenzi infrastructure to increase production capacity of the asset. The project, on which a final investment decision (FID) was taken in July 2021, achieved production ahead of targeted first oil in 2024.
Woodside CEO Meg O’Neill said the start-up of Shenzi North further demonstrated the value of Woodside’s US Gulf of Mexico assets, acquired as part of the merger with BHP’s petroleum business in 2022.
“First production from Shenzi North shows how we are leveraging existing infrastructure to increase production and provide attractive returns from our Gulf of Mexico business.
“Taking the project from FID to first oil in 26 months is a great achievement. I commend the project team on safely bringing this resource into production well ahead of schedule,” she said.
Woodside holds a 72% interest in the Shenzi conventional oil and gas field as operator and Repsol holds the remaining 28% interest. The field is located approximately 195 km off the coast of Louisiana in the Green Canyon protraction area. Shenzi was discovered in 2002 and first production of oil and natural gas occurred in 2009.
The Shenzi platform produces both oil and gas with a production capacity of 100,000 bbl/d and 50 MMscf/d. Crude oil and natural gas produced from the field is transported to connecting pipelines for onward sale to Gulf Coast customers.
Tuesday 12 September 2023
ACE platform topsides unit sails away for offshore installation
bp as operator of the Azeri-Chirag-Deepwater Gunashli (ACG) field development project announces that today the Azeri Central East (ACE) platform topsides unit sailed away from the Bayil fabrication yard where it was built. Prior to its sail away the topsides unit was mostly commissioned and operationally tested onshore to minimise activities required for offshore installation and start-up.
On 4 April, the President of Azerbaijan Ilham Aliyev visited the topsides fabrication yard and toured the almost completed topsides unit before it had sailed away to its permanent location. Since then, the team have successfully completed the key commissioning activities planned to be performed onshore. These activities mainly included the successful completion of the rig access period, the integrated assurance test and the blowdown safety testing.
Following these completions, the topsides unit was safely jacked-up and lowered onto the load-out frame in preparation for skidding onto the transportation barge.
On 30 May, the transportation barge STB-1 arrived at the Bibi-Heybat yard and preparations for load out activities commenced. On 2 July, the topsides unit was transferred onto the STB-1 barge, sea-fastened and prepared for sail away to the ACG field.
The topsides transportation, float-over and installation activities have been carefully planned and are expected to take around four days to complete. The unit will be installed on top of the ACE platform jacket which has been at its offshore location since March installed in a water depth of 137 metres.
Gary Jones, bp’s regional president for Azerbaijan, Georgia and Türkiye, said:
“Today we sailed away the final section of the ACE platform which we believe is an amazing feat of innovative engineering with its state-of-the-art design that will make it possible to extensively use system and process automations and digital innovations. This platform will be controlled remotely from the Sangachal terminal and this is the first time in our experience in the Caspian that we will control an offshore platform from onshore.
As operator we are extremely pleased to have completed all onshore construction and commissioning activities of such a complex project safely. I would like to say a huge thank you to all people involved in the construction and commissioning works. My special thanks are to our fabrication contractors, construction, commissioning, operations, safety and engineering teams and all the workforce for their excellent performance and delivery.
We expect the topsides unit to be safely installed onto the jacket over the next week. We will then need a few months to complete offshore hook up and commissioning works to allow us to commence drilling the first platform production well and deliver ACE first oil in early 2024.”
The construction of the 19,600-tonne topsides unit started in 2019 and was completed with outstanding safety achievements of over 21 million hours worked injury free.
The ACE topsides unit consists of oil and gas processing facilities, an integrated drilling rig, a gas compressor and living quarters.
The topsides unit was constructed by Azfen in the Bayil fabrication yard using local infrastructure and resources.
Notes to editors
On 4 April, the President of Azerbaijan Ilham Aliyev visited the topsides fabrication yard and toured the almost completed topsides unit before it had sailed away to its permanent location. Since then, the team have successfully completed the key commissioning activities planned to be performed onshore. These activities mainly included the successful completion of the rig access period, the integrated assurance test and the blowdown safety testing.
Following these completions, the topsides unit was safely jacked-up and lowered onto the load-out frame in preparation for skidding onto the transportation barge.
On 30 May, the transportation barge STB-1 arrived at the Bibi-Heybat yard and preparations for load out activities commenced. On 2 July, the topsides unit was transferred onto the STB-1 barge, sea-fastened and prepared for sail away to the ACG field.
The topsides transportation, float-over and installation activities have been carefully planned and are expected to take around four days to complete. The unit will be installed on top of the ACE platform jacket which has been at its offshore location since March installed in a water depth of 137 metres.
Gary Jones, bp’s regional president for Azerbaijan, Georgia and Türkiye, said:
“Today we sailed away the final section of the ACE platform which we believe is an amazing feat of innovative engineering with its state-of-the-art design that will make it possible to extensively use system and process automations and digital innovations. This platform will be controlled remotely from the Sangachal terminal and this is the first time in our experience in the Caspian that we will control an offshore platform from onshore.
As operator we are extremely pleased to have completed all onshore construction and commissioning activities of such a complex project safely. I would like to say a huge thank you to all people involved in the construction and commissioning works. My special thanks are to our fabrication contractors, construction, commissioning, operations, safety and engineering teams and all the workforce for their excellent performance and delivery.
We expect the topsides unit to be safely installed onto the jacket over the next week. We will then need a few months to complete offshore hook up and commissioning works to allow us to commence drilling the first platform production well and deliver ACE first oil in early 2024.”
The construction of the 19,600-tonne topsides unit started in 2019 and was completed with outstanding safety achievements of over 21 million hours worked injury free.
The ACE topsides unit consists of oil and gas processing facilities, an integrated drilling rig, a gas compressor and living quarters.
The topsides unit was constructed by Azfen in the Bayil fabrication yard using local infrastructure and resources.
Notes to editors
- The $6 billion ACE project is the next stage of development of the giant ACG field in the Caspian Sea.
- ACE is centred on a new 48-slot production, drilling and quarters platform located mid-way between the existing Central Azeri and East Azeri platforms in a water depth of approximately 140 metres. The project also includes new infield pipelines to transfer oil and gas from the ACE platform to the existing ACG Phase 2 oil and gas export pipelines for transportation to the onshore Sangachal terminal.
- In addition, there is a water injection pipeline between the East Azeri and ACE platforms to supply injection water from the Central Azeri compression and water injection platform to the ACE facilities.
- The ACE platform and facilities are designed to process up to 100,000 barrels of oil per day. The project is expected to produce up to 300 million barrels over its lifetime.
- At peak, over 8,500 people were involved in the ACE project construction works in Azerbaijan.
Sunday 10 September 2023
ADNOC Gas Awards $3.6 Billion Contract to Expand its Gas Processing Infrastructure
ADNOC Gas plc (“ADNOC Gas” or the “Company”) (ADX symbol: “ADNOCGAS” / ISIN: “AEE01195A234”), the world-class integrated gas processing company, today announced the award of a $3.6 billion (AED13.1 billion) contract to the joint venture between National Petroleum Construction Company Co. PJSC (NPCC) and Tecnicas Reunidas S.A. to expand its gas processing infrastructure in the UAE. The scope of the contract includes the commissioning of new gas processing facilities which will enable an optimized supply to the Ruwais Industrial Complex.
The strategic Maximizing Ethane Recovery and Monetization (MERAM) project aims to achieve dual objectives; firstly, to increase ethane extraction, by a range of 35 - 40%, from ADNOC Gas’s existing onshore facilities in the Habshan complex through the construction of new gas processing facilities; and secondly, to unlock further value from existing feedstock and deliver it to Ruwais via a dedicated 120 kilometer natural gas liquids (NGL) pipeline.
Over 70% of the award value will flow back into the UAE’s economy under ADNOC's successful In-Country Value (ICV) program, supporting local economic growth and diversification.
Ahmed Mohamed Alebri, Chief Executive Officer of ADNOC Gas, said: "This capital project represents ADNOC Gas’ latest investment in its gas processing infrastructure and underscores our commitment to responsibly meeting our customers’ current and future energy demand for natural gas and its feedstock. The expansion of our gas processing infrastructure will also provide additional energy to the country’s growing industrial section, while stimulating economic growth and diversification through the significant ICV generated by the contract.”
Natural gas is an important transitional fuel with lower carbon emissions when burned compared to other fossil fuels. It also serves as an important raw material in industrial value chains.
ADNOC Gas continues to leverage opportunities arising from ADNOC’s integrated gas masterplan which links every part of the gas value chain in the UAE, ensuring a sustainable and economic supply of natural gas to meet local and international demand. The plan includes new approaches and technologies to enable increased gas recovery from existing fields and develop untapped resources.
ADNOC Gas continues to leverage opportunities arising from ADNOC’s integrated gas masterplan which links every part of the gas value chain in the UAE, ensuring a sustainable and economic supply of natural gas to meet local and international demand. The plan includes new approaches and technologies to enable increased gas recovery from existing fields and develop untapped resources.
The strategic Maximizing Ethane Recovery and Monetization (MERAM) project aims to achieve dual objectives; firstly, to increase ethane extraction, by a range of 35 - 40%, from ADNOC Gas’s existing onshore facilities in the Habshan complex through the construction of new gas processing facilities; and secondly, to unlock further value from existing feedstock and deliver it to Ruwais via a dedicated 120 kilometer natural gas liquids (NGL) pipeline.
Over 70% of the award value will flow back into the UAE’s economy under ADNOC's successful In-Country Value (ICV) program, supporting local economic growth and diversification.
Ahmed Mohamed Alebri, Chief Executive Officer of ADNOC Gas, said: "This capital project represents ADNOC Gas’ latest investment in its gas processing infrastructure and underscores our commitment to responsibly meeting our customers’ current and future energy demand for natural gas and its feedstock. The expansion of our gas processing infrastructure will also provide additional energy to the country’s growing industrial section, while stimulating economic growth and diversification through the significant ICV generated by the contract.”
Natural gas is an important transitional fuel with lower carbon emissions when burned compared to other fossil fuels. It also serves as an important raw material in industrial value chains.
ADNOC Gas continues to leverage opportunities arising from ADNOC’s integrated gas masterplan which links every part of the gas value chain in the UAE, ensuring a sustainable and economic supply of natural gas to meet local and international demand. The plan includes new approaches and technologies to enable increased gas recovery from existing fields and develop untapped resources.
ADNOC Gas continues to leverage opportunities arising from ADNOC’s integrated gas masterplan which links every part of the gas value chain in the UAE, ensuring a sustainable and economic supply of natural gas to meet local and international demand. The plan includes new approaches and technologies to enable increased gas recovery from existing fields and develop untapped resources.
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