The company and its partners TotalEnergies SE, Eni SpA and China National Petroleum Corp will develop the Umm Shaif Gas Cap project to produce the equivalent of about 10% of the United Arab Emirates’ current gas consumption, according to a statement. Output is expected to start in 2030.

Adnoc has been increasing gas supply by unlocking new reserves domestically, including signing an agreement for the Bab Gas Cap project last month, while pushing into liquefied natural gas facilities from the US to Mozambique. The company, which is also in the process of more than doubling LNG export capacity in Abu Dhabi, had been sending out some shipments during the Iran war that started in the end of February.   

Adnoc this month said it would consolidate its LNG trading operations with those of Adnoc Gas Plc and investment arm XRG, aiming for the new combined business to handle 47 million tonnes of the liquefied fuel by 2035. Those volumes would include supply from overseas.

Late last year, Adnoc unveiled a US$150 billion five-year spending plan, targeting growth in energy production capacity at home and deals to expand internationally. It is raising total oil production capability to five million barrels a day from the current 4.85 million a day. The company has also been one of the most active global dealmakers in the industry.

The final investment decision for Umm Shaif Gas Cap includes three contracts totalling US$5.1 billion for offshore infrastructure. It also involves Adnoc Drilling Co undertaking a US$365 million programme to drill 14 wells. Production from the project is expected to reach as much as 600 million cubic feet a day, according to the statement.

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