UAE awards Bab Gas Cap concession to ADNOC, international partners, state news agency reports
Wed 18:56
UAE awards Bab Gas Cap concession to ADNOC, international partners, state news agency reports June 24 (Reuters) - Abu Dhabi's Supreme Council for Financial and Economic Affairs has awarded a concession for the development and production of the Bab Gas Cap to ADNOC and its international partners, with expected production capacity of around 1.5 billion cubic feet of natural gas per day, the state news agency reported on Wednesday.
Under the concession agreement, ADNOC will hold a 60% participating interest, while TotalEnergies TTEF.PA and BP BP.L will each hold 10%, CNPC International 8%, JODCO Onshore 5%, China ZhenHua Oil 4% and Korea GS E&P 3%.
(Reporting by Yomna Ehab and Enas Alashray; Editing by Chris Reese)
Recent news on TotalEnergies SE
See all newsBritain's Crown Estate profits fall to £1.2 bln as offshore wind revenues dip
TotalEnergies must address climate risks linked to its products, French court rules (updated)
TotalEnergies must report risks caused by emissions, Paris court rules
BP signs concession deal with ADNOC, partners for Bab Gas Cap project (updated)
UAE awards Bab Gas Cap concession to ADNOC, international partners, state news agency reports