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Abu Dhabi's national oil company (ADNOC), on behalf of the Abu Dhabi government, has signed a concession agreement with VenturesHall Holding GMP, which has acquired a 10% stake in the Gasha concession.
The concession includes the "Hail", "Gasha" and "Dalma" fields, as well as other corrosive gas fields, including "Nasr" and "Serbs" and "Mabarz".
Under the terms of the agreement, Vintershal will assume 10% of the project's capital, operating and development expenditures. Vintershal, the largest German company specializing in the production of crude oil and natural gas, and 100% owned by BASF, the world's largest chemical company in terms of sales, joins the ADNOC partners in this project alongside the Italian company Eni, 25% in the concession "Gasha" under an agreement signed this month.
According to the Emirates news agency, this agreement with Vintershal constitutes the first participation of a German oil and gas company in one of the concessions of Abu Dhabi and registered in the development and diversification program of ADNOC's strategic partnerships.
The agreement was signed by HE Sultan Bin Ahmed Al Jaber, Minister of State and General Manager of the Abu Dhabi National Petroleum Corporation (ADNOC) and its group of companies, and Mario Mehrin, Managing Director of Vintershal.
"In line with the leaders' direction to expand strategic partnerships and to develop and optimize hydrocarbon resources to ensure energy sources to support economic growth, the development of the Gasha concession is a strategic priority for ADNOC. "said Dr. Sultan Ahmed Al Jaber. Provide sustainable economic gas supplies to meet local needs and achieve the goal of self-sufficiency in gas. "
"ADNOC and Vintershal have extensive expertise in the assessment and development of high acidity gas resources from fields with complex technical characteristics, which provides mutual benefits and allows for the exchange of knowledge and expertise. expertise in order to reduce costs and optimize the use of all gas resources, in addition to making Abu Dhabi a center of excellence in development projects. gas with high acidity, relying on the great experience of ADNOC in the production of corrosive gas. "
The agreement reflects the strong momentum that followed the adoption of the new ADNOC gas strategy, which aims to maximize the value of the gas reserves in Abu Dhabi and support the UAE's efforts to achieve the goal of achieving the goal. Gas self-sufficiency and potential for export.
Gasha's high-acid gas concession aims to exploit the resources of the Arab reservoir, which would contain several trillion cubic feet of standard recoverable gas, which is expected to produce more than 1.5 billion cubic feet of gas per day. Mid decade.
The Gasha franchise is expected to produce enough gas to meet the needs of more than 2 million homes. As the project is completed, it will also produce more than 120,000 barrels of high-grade oil and condensate each day.
The project will contribute to the development of a highly acidic gas center in the region and will benefit the local economy through the local ADNOC value-added program, which aims to strengthen local content, strengthen cooperation with private sector companies and to offer more business opportunities to promote growth. Economic and social development and create additional jobs for private sector citizens.
"We are delighted to be part of this strategic project, which will support the implementation of the 2031 clever ADNOC growth strategy and aligns with Wintershall's strategy and its sustained efforts since 2010 to strengthen its presence in the Middle East. East through investments, "said Mario Mehrin. And we are proud of the confidence and choice of ADNOC for Wintershall as a partner of this project. Working with ADNOC, the coronation Aaonna substantial and sustainable production.
"Our portfolio of existing projects is an ideal complement to natural gas production in Abu Dhabi, and we have decades of experience in developing safe gas fields, and we will contribute to our knowledge and efficiency of the project. implementation of projects at an effective cost in Abu Dhabi over the next decades. "
Mario Mehrin explained that Vintershal was particularly qualified for marine operations in the Gasha concession, citing its technical expertise in drilling wells, developing efficient fields and their knowledge of issues to be considered in sensitive environmental areas. .
In addition to the development of the Gasha concession, ADNOC plans to increase Makman Shah production to 1.5 billion cubic feet per day and develop the gas fields of Bab and Bouhsa, while maximizing the value of other sources. Abu Dhabi's gas pipeline includes the Umm Al Shef reservoir's giant gas coverage and unconventional gas reserves, as well as new natural gas reserves, which will continue to be assessed and developed as and when required. exploration activities of the company.
Vintershal specializes in the exploration, development and production of oil and gas using advanced technology and has more than 40 years of experience in the production of corrosive gas. The company has developed 16 fields in Germany, produces 30 billion cubic meters of corrosive gas and has built four gas treatment plants.
Venter Sohal has been actively engaged in natural resource extraction for 120 years and in the exploration and production of crude oil and natural gas for more than 85 years.
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