PTTEP, Eni combine Abu Dhabi Ghasha project stakes through new venture

Seela Energies will manage the partners' combined 20% interest in the ADNOC-operated offshore project, which is expected to produce more than 1.8 Bcf/d of gas and 150,000 bbl/d of oil and condensate.

Jeremy Beckman

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PTTEP

Oct. 29, 2026

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Why this news matters:

The Ghasha project is one of the Middle East's largest offshore gas developments and is expected to supply more than 1.8 Bcf/d of gas over the long term.
The formation of Seela Energies consolidates PTTEP's and Eni's interests into a single venture, potentially improving project financing and execution efficiency.
The move signals continued international investment in Abu Dhabi's offshore gas sector as operators pursue large-scale developments to boost regional energy supplies.

Ghasha Concession Artificial Islands — An aerial view depicts one of the artificial islands being developed for ADNOC's Hail and Ghasha gas project offshore Abu Dhabi. The islands are intended to support drilling and production activities while reducing the need for conventional offshore facilities.

PTTEP subsidiary PTTEP MENA and Eni Abu Dhabi have formed Seela Energies to manage their respective 10% interests in the Ghasha Concession Project offshore Abu Dhabi.

They have obtained all regulatory, governmental and partner approvals for the new entity.

The concession, operated by ADNOC, is set to produce more than 1.8 Bcf/d of gas and 150,000 bbl/d of oil and condensate over the longer term, PTTEP reported.

It added that Seela Energies will strengthen its collaboration with Eni and help secure access to financing, as the two companies pursue potential future mutual growth in the Middle East region.

In December 2025, ADNOC, Eni and PTTEP have signed a financing transaction of up to $11 billion with multiple institutions to cover future midstream gas production from the Hail and Ghasha fields on the Ghasha Concession offshore Abu Dhabi.

Hail and Ghasha island under construction — In December 2025, ADNOC, Eni and PTTEP inked a landmark structured financing transaction of up to $11 billion (AED 40.4 billion) to monetize Hail and Ghasha’s midstream future gas production.

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About the Author

Jeremy Beckman

Staff Writer / Editor, Europe

Jeremy Beckman has been Editor Europe, Offshore since 1992. Prior to joining Offshore he was a freelance journalist for eight years, working for a variety of electronics, computing and scientific journals in the UK. He regularly writes news columns on trends and events both in the NW Europe offshore region and globally. He also writes features on developments and technology in exploration and production.