ADNOC Gas has approved $5 billion worth of contracts for the first phase of its Rich Gas Development (RGD) Project. This is the company’s biggest capital investment so far. The goal is to develop new gas reservoirs, increase the UAE’s gas exports, and support the country’s energy needs.
The contracts will help expand and improve processing at four key locations: Asab, Buhasa, Habshan (onshore), and Das Island (offshore). Work at these sites will improve operations and increase capacity. Later phases will also cover more development at Habshan and Ruwais to meet growing demand.
The $5 billion investment is divided into three major parts. Wood was awarded $2.8 billion for the Habshan facility. A group led by Petrofac received $1.2 billion for work at Das Island. Another group, led by Kent Plc, received $1.1 billion for Asab and Buhasa.
Fatema Al Nuaimi, CEO of ADNOC Gas, said the project will support the company’s plan to grow its earnings by over 40% by 2029. She also said the project will create hundreds of technical jobs in the UAE and help boost the local economy. The focus on in-country value means many of the benefits will stay within the country.
