(World Oil) – TotalEnergies has signed an agreement to acquire a 10% interest in the Bab Gas Cap concession in Abu Dhabi, joining ADNOC and a group of international partners in the development of one of the UAE’s major gas growth projects.
The concession is operated by ADNOC Onshore, which holds a 60% interest. Other partners include bp, CNPC, JODCO/INPEX, ZhenHua and GS Energy.
The project is focused on developing the gas cap resources of the Bab onshore field and is targeting production of approximately 1.5 Bcfd. The concession builds on the 40-year renewal of Abu Dhabi’s onshore oil concession in 2015 and represents a key component of the emirate’s strategy to expand natural gas and condensate production.
According to TotalEnergies, the development is expected to support growth across the UAE’s gas value chain, including the Ruwais LNG project, in which the company also holds a 10% stake.
“I would like to thank the Supreme Council for Financial and Economic Affairs of Abu Dhabi for its continued trust,” said Patrick Pouyanné, chairman and CEO of TotalEnergies. “This entry in a new concession underlines TotalEnergies’ commitment to stand alongside ADNOC, our historic partner in Abu Dhabi, and to keep contributing to the development of the United Arab Emirates’ significant hydrocarbon resources.”
Pouyanné said the project aligns with the company’s upstream strategy by adding low-cost, low-emissions resources with significant production growth potential.
The agreement further expands TotalEnergies’ presence in Abu Dhabi, where the company has maintained a long-standing partnership with ADNOC across upstream oil, gas and LNG developments.
