Adnoc to invest Dh36b in a new gas field

Abu Dhabi: Abu Dhabi National Oil Company (Adnoc)has recently offers bids for tenders worth Dh18 billion to Dh36 billion ($5 billion to 10 billion) in a new gas field in the capital of Abu Dhabi, whose capacity will be approximately 200-400 million cubic feet, Mohammad Abdullah Bin Sahoo Al Suwaidi, Director of Gas Department at Adnoc, told reporters on the sideline of Adipec.

“The new site is characterised by high proportion of impurities of sulfur dioxide. The tender bids will be unveiled in the near future to choose a ADNOC’s international partner execute this project, whose full production is slated to start in 2017,” Al Suwaidi added.

He stressed that currently Adnoc produces about 4 billion cubic feet of gas.

“The company has invested about Dh64.8 billion ($18 billion) in this sector during the past three years in both the integrated gas project and Shah, which is projected to increase Abu Dhabi’s gas production by about 1.3 billion cubic feet until the end of 2014.

“Based on the net produce from the integrated gas and Shah, Adnoc’s production by end of 2014 will be 5.3 billion cubic feet. By end of 2017, the new project will start producing 200-400 million cubic feet, to make the overall gas production by Adnoc to 6 billion cubic feet,” said Al Suwaidi.