Abu Dhabi National Oil Company (Adnoc), in partnership with Eni and PTT Exploration and Production Public Company (PTTEP), signed a structured financing transaction of up to $11 billion to monetise future midstream gas production from the Hail and Ghasha fields.

Hail and Ghasha form part of the larger Ghasha Concession, located offshore Abu Dhabi, which is expected to produce 1.8 billion standard cu ft per day (bscfd) of gas.

The project aims to operate with net-zero emissions, capturing 1.5 million tonnes per year (mtpa) of carbon dioxide—equivalent to removing more than 300,000 cars from the road annually.

The non-recourse financing transaction is unique in scale and complexity for the energy sector and allows Adnocto realise upfront value at competitive rates while retaining strategic and operational control of its assets.

The structure ring-fences midstream processing facilities, enabling access to low-cost funding and introducing an innovative commercial model for large-scale energy infrastructure.

Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Adnoc Managing Director and Group CEO, said: "This landmark transaction builds on Adnoc’s successful track record of global energy partnerships and unlocks capital to drive progress at Hail and Ghasha, one of the world’s most ambitious offshore gas projects. The exceptional demand from over 20 leading global and regional financial institutions reinforces confidence in Adnoc’s value creation strategy, innovative approach to financing, and expertise in delivering mega projects. Hail and Ghasha is an important contributor to Adnoc’s gas strategy and is on track to generate significant value for Adnoc, our partners, and the UAE, while unlocking important new gas resources for our customers."