TotalEnergies Acquires 10% Interest in Abu Dhabi's Bab Gas Cap Project

en.Wedoany.com Reported - TotalEnergies announced the signing of an agreement to acquire a 10% interest in the Bab Gas Cap concession in Abu Dhabi, partnering with the Abu Dhabi National Oil Company (ADNOC) and several international partners to develop one of the UAE's largest natural gas growth projects.

The concession is operated by ADNOC Onshore, which holds a 60% interest. Other partners include bp, China National Petroleum Corporation (CNPC), Japan Oil Development Co., Ltd./INPEX (JODCO/INPEX), ZhenHua, and GS Energy.

The project aims to develop the gas cap resources of the Bab onshore field, targeting a production capacity of approximately 1.5 billion cubic feet per day. The concession is based on the 40-year renewal of the Abu Dhabi onshore oil concession in 2015 and is a key component of the Emirate of Abu Dhabi's strategy to expand natural gas and condensate production.

TotalEnergies stated that the development is expected to support the growth of the UAE's natural gas value chain, including the Ruwais LNG project, in which TotalEnergies also holds a 10% stake.

Patrick Pouyanné, Chairman and CEO of TotalEnergies, expressed gratitude for the continued trust of the Supreme Council for Financial and Economic Affairs of Abu Dhabi. He noted that entering this new concession highlights TotalEnergies' long-term partnership with ADNOC and its ongoing contribution to developing the UAE's abundant oil and gas resources. Pouyanné said the project aligns with the company's upstream strategy by adding low-cost, low-emission resources with significant production growth potential.

The agreement further expands TotalEnergies' operations in Abu Dhabi, where the company maintains a long-term partnership with ADNOC in upstream oil, gas, and LNG development.

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