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Fueling Strategic Partnerships

 

Fueling Strategic Partnerships

The Ghasha mega-project draws on ADNOC’s long-standing sour gas expertise, including its Shah onshore ultra-sour gas field project, its pioneering work in the creation of artificial islands, and the wide and deep sour gas capabilities of its concession partners. It will further strengthen the UAE as a leading global hub for knowledge and experience in ultra-sour gas.

Expanding ADNOC’s leading sour gas experience, the company entered into strategic partnerships with global companies that have proven sour gas capabilities. To date, the concession has attracted significant foreign direct investment from four major partners: Italy’s ENI (25%), Germany’s Wintershall Dea (10%), Austria’s OMV (5%), and Russia’s LUKOIL (5%). With a concession term of 40 years as of November 2018, the project will further optimize costs and ensure that maximum value from gas resources is extracted, in line with ADNOC’s ambitious gas strategy.