The Supreme Council for Financial and Economic Affairs (SCFEA) has awarded the concession agreement for the development and production of the Bab Gas Cap to Adnoc and a consortium of international energy partners, marking a significant milestone in the UAE’s energy sector.

Under the agreement, Adnoc will hold a 60 per cent participating interest, while partners include TotalEnergies, BP, CNPC International, Jodco Onshore, China ZhenHua Oil and Korea GS E&P.

The Bab Gas Cap Development and Production Concession is described as the world’s largest gas cap development project of its kind.

The project is expected to achieve a production capacity of around 1.5 billion standard cubic feet of natural gas per day, equivalent to approximately 15 per cent of Adnoc Gas’ total operational gas processing capacity.

Officials said the development will play a key role in strengthening the UAE’s gas self-sufficiency, supporting the growth of the petrochemicals industry and advancing Adnoc’s plans to expand its liquefied natural gas (LNG) export capabilities.

SCFEA said the project reflects its commitment to the sustainable development of Abu Dhabi’s natural resources while maximising their economic and strategic value.

The concession also reinforces the UAE’s position as a reliable global energy supplier and an attractive destination for long-term international investment.

The council oversees policies related to finance, investment, petroleum and natural resources, supporting Abu Dhabi’s long-term economic and sustainability goals. -OGN/TradeArabia News Service