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The Abu Dhabi National Oil Company (ADNOC), on behalf of the Government of Abu Dhabi, has signed a concession agreement with Wintershall Holding GmbH, under which it has acquired a 10% stake in the concession of Gasha,
The concession includes the Al-Hail, Ghasha and Dalma fields, as well as other corrosive gas fields, including Nasr, Sarab and Mubarz.
Under the terms of the agreement, Wintershall will assume 10% of the project's capital, operating and development expenditures. The agreement was signed by HE Sultan Al Jaber, Minister of State and Chief Executive Officer of ADNOC and its group of companies, and Mario Mehrin, CEO of Wintershall.
Wintershall, the largest German company specializing in the production of crude oil and natural gas and wholly 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, Gasha franchise under an agreement signed earlier this month. The agreement with Wintershall is the first participation of a German oil and gas company in one of the concessions of Abu Dhabi. It is part of the ADNOC program to expand and diversify its strategic partnerships.
"In line with the leaders' direction to expand strategic partnerships and to develop and optimize hydrocarbon resources to ensure the supply of energy necessary for economic growth, the Gasha Privilege Development Project is a strategic priority for ADNOC. "said Dr. Al Jaber.
The locations where the gas extracted will contribute to the economic and sustainable gas supply in order to meet local needs and achieve the goal of self-sufficiency in gas. "ADNOC and Wintershall both have significant expertise in the assessment and development of high acidity gas resources from fields with complex technical characteristics.
This partnership provides mutual benefits and the exchange of knowledge and expertise to reduce costs and maximize the value of all available gas resources. It has also made Abu Dhabi a center of excellence in high acidity gas development projects, building on ADNOC's considerable experience in sour gas production.
The agreement reflects the strong momentum that followed the adoption of the new ADNOC gas strategy, which aims to maximize the value of the Abu Dhabi gas fields and support the UAE's efforts to achieve gas self-sufficiency and export potential.
Franchise
The Ghasha high acid gas concession aims to exploit the resources of an Arab reservoir, which would contain an estimated several billion cubic feet of standard recoverable gas, which is expected to produce more than 1.5 billion cubic feet of gas a day when it will be put into service in the middle of the next decade.
The Gasa concession should produce enough gas to meet the needs of more than 2 million households. As the project is completed, it will also produce more than 120,000 barrels of high-grade oil and condensate each day.
"This strategic project contributes to the implementation of ADNOC's 2030 integrated strategy for smart growth and is in line with Wintershall's strategy and the efforts under way since 2010 to strengthen its presence in the Middle East by investing in Abu Dhabi and by developing its investments to create a new growth area for Wintershall, "said Mario Mehrin.
In addition to the development of the Gasha concession, ADNOC plans to increase the production of the Shah Reservoir to 1.5 billion cubic feet per day and to continue the development of the Baus and Bohata gas fields.
40 years of experience
Wintershal specializes in the exploration, development and production of oil and gas using advanced technology and has over 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. Wintershall is actively engaged in the extraction of natural resources for 120 years and in the exploration and production of crude oil and natural gas for more than 85 years.
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