Lukoil joins Ghasha gas project offshore Abu Dhabi

The Abu Dhabi government and the ADNOC have awarded PJSC Lukoil Oil Co. a 5% stake in the offshore Ghasha ultra-sour gas concession.

Ghasha ultra-sour gas concession offshore Abu Dhabi.
Ghasha ultra-sour gas concession offshore Abu Dhabi.
(Courtesy ADNOC)

Offshore staff

ABU DHABI, UAE – The Abu Dhabi government and the ADNOC have awarded PJSC Lukoil Oil Co. a 5% stake in the offshore Ghasha ultra-sour gas concession.

This comprises the Hail, Ghasha, Dalma and other sour gas fields.

The award marks the first time that a Russian company has joined an ADNOC concession.

ADNOC maintains a majority stake in the concession, which also includes Italy’s Eni, Germany’s Wintershall Dea, and Austria’s OMV.

By about 2025, the Ghasha mega-project is expected to produce more than 1.5 bscf/d of natural gas, which is said to be enough to provide electricity to more than two million homes. Also, more than 120,000 b/d of oil and condensates are expected to be produced.

In addition, ADNOC, Lukoil, and the Management Company of Russian Direct Investment Fund have signed a framework agreement to explore potential future cooperation in relation to the Ghasha concession.

10/15/2019

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