State-owned Abu Dhabi National Oil Company (ADNOC) has sold a 5% interest in the Ghasha ultra-sour gas mega project in the Al Dhafra region (United Arab Emirates) to the Austrian oil and gas company OMV, which will contribute 5% of the project capital and operational development expenses. After the completion of the transaction, the asset will be jointly developed by ADNOC (operator, 60%), Eni (25%), Wintershall (10%) and OMV (5%). Wintershall acquired its 10% stake from ADNOC in late November 2018.
The 40-year Ghasha concession agreement includes the Hail, Ghasha, Dalma, Mubarraz and Nasr ultra-sour gas fields. The project is expected to produce more than 1.5 bcf/d of gas (42.4 mcm/d or 15.5 bcm/year) and 120,000 bbl/d of oil when it comes online around the middle of the next decade. The gas produced from the Hail, Ghasha and Dalma fields could meet more than 20% of the United Arab Emirates' domestic demand in the near future.
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