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UAE's Umm Shaif Gas Cap Development Project Advances With $6.2 billion FID

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A $6.2 billion final investment decision has been reached for the development of the Umm Shaif Gas Cap development in the Umm Shaif and Nasr offshore concession in Abu Dhabi, operator Abu Dhabi National Oil Company and stakeholder TotalEnergies (TTE) said in separate statements on Tuesday.

The project has the potential to unlock 600 million standard cubic feet per day of natural gas and associated gas liquids, sufficient to meet 10% of the UAE's daily gas needs.

The project is expected to begin producing from 2030.

The FID comprises three engineering, procurement and construction packages worth $5.1 billion for offshore infrastructure awarded to UAE-based and international contractors, along with a $365 million 14-well drilling program to be carried out by Adnoc Drilling over 18 months using three existing rigs.

The FID follows the award of the Bab Gas Cap concession, expected to add 1.5 billion scfd of natural gas and associated liquids, and supports Adnoc's goal of a global LNG trading platform with 47 million tonnes per annum of marketable LNG capacity by 2035, Adnoc's statement said.

Adnoc has a 60% interest in the project, with TotalEnergies holding 20%, China National Petroleum Corporation 10% and ENI 10%. Adnoc Offshore is the operator.

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