ADNOC Gas Plc has reached final investment decision and awarded $5 billion in contracts for the first phase of its Rich Gas Development Project, representing a key milestone in the company’s largest-ever capital investment. The integrated gas processing and sales company plans to expand key processing units to increase throughput and improve operational efficiency across four facilities: Asab, Buhasa, Habshan (Onshore), and the Das Island liquefaction facility.
The company intends to proceed with FIDs on two additional RGD project phases at Habshan and Ruwais to deliver greater production capacity for growing market demands. The RGD project will enable development of new gas reservoirs critical to boosting liquid gas exports, supporting UAE gas self-sufficiency, and providing essential feedstock to the country’s expanding petrochemical industry.
EPCM contracts for phase 1 have been awarded across three tranches. Wood received the largest contract valued at $2.8 billion for the Habshan facility, while two consortia secured the remaining awards: Petrofac and Kent Plc will handle the $1.2 billion Das Island liquefaction facility and $1.1 billion Asab and Buhasa facilities, respectively.
Fatema Al Nuaimi, CEO of ADNOC Gas, described the FID and contract awards as a significant milestone in the company’s strategy to deliver over 40% EBITDA growth between 2023 and 2029. She emphasised that this strategic investment is expected to generate substantial shareholder value while enabling continued sustainable growth for the company, its employees, and the UAE.
The first phase focuses on optimising and debottlenecking existing gas assets while unlocking new gas streams. As part of ADNOC Gas’ long-term growth strategy through 2029, the RGD project demonstrates the company’s commitment to enhancing In-Country Value, with plans to create hundreds of new field-based technical positions by 2029, further contributing to UAE economic growth.
For more information visit www.adnocgas.ae
