THE Abu Dhabi Gas Liquefaction Limited (Adgas) has exceeded its target with another impressive performance for the year.

Driven by better prices and increased sales volume than projected, revenues and profit, Adgas surged to surpass the target, the company said.
“Actual year-to-date sales volume of four million tonnes is higher than the target of 3.71,” it said.
Adgas, part of Abu Dhabi National Oil Company (Adnoc), and responsible for extracting, processing and transporting gas in liquid form to customers around the world, said it also achieved a year-to-date production of 4.07 million tonnes, far exceeding the target of 3.83 million tonnes.
The average plant effectiveness was 97.1 per cent compared to the targeted 95.5 per cent.
“Return on invested capital is above target as a result of higher profits during the period. Forward net present value was forecast at 7.8 per cent higher than planned while the capital expenditure was below target due to a delay in the award of several projects,” it said.
Adgas, which was established to turn gas, extracted from Abu Dhabi’s offshore field crude oil, into a new source of marketable energy, said it achieved 10.99 million man-hours equiva-lent to 794 days without a lost time injury enabling it to maintain zero for lost time injury frequency (LTIF) annual rolling average compared to the target of 0.46.
Fahim Kazim, Adgas plant manager, pointed out that the safety record was a major achievement, adding that the company would continue to sustain the trend in the years to come.
He stressed the importance of diligence and perseverance by all emplo-yees to ensure the consoli-dation of the excellent performance.
Adgas is currently constructing a new $500 million plant called the PG Project.