en.Wedoany.com Reported - The Supreme Council for Financial and Economic Affairs (SCFEA) of Abu Dhabi, UAE, recently announced the award of the Bab Gas Cap development and production concession agreement to the Abu Dhabi National Oil Company (ADNOC). Under the agreement, ADNOC holds a 60% participating interest, with its international partners including:

TotalEnergies EP Holdings UAE B.V., a subsidiary of France's TotalEnergies (10% stake)

BP Abu Dhabi, a subsidiary of BP (10% stake)

CNPC International (Hong Kong SAR), a subsidiary of China National Petroleum Corporation (8% stake)

JODCO Onshore, a subsidiary of Japan's INPEX Corporation (5% stake)

China ZhenHua Oil (Hong Kong SAR), a subsidiary of ZhenHua Oil (4% stake)

Korea GS E&P Pte., a subsidiary of South Korea's GS Group (3% stake)

Reports indicate that the Bab Gas Cap development and production concession project is the largest gas cap development project of its kind globally, further solidifying the UAE's position as a trusted destination for long-term investment and a reliable energy supplier.

The project is expected to achieve a daily natural gas production capacity of approximately 1.5 billion standard cubic feet, accounting for about 15% of ADNOC Gas's current total natural gas processing capacity. This data fully underscores the strategic importance of the project.

The project is expected to help the UAE achieve natural gas self-sufficiency, drive the continued development of its petrochemical industry, and facilitate the implementation of ADNOC's plans to expand liquefied natural gas (LNG) export capacity.

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