ADNOC Gas approves $5 billion contracts for first Rich Gas Development phase

ADNOC Gas Plc and its subsidiaries have taken a Final Investment Decision (FID) and awarded $5 billion in contracts for the first phase of their Rich Gas Development (RGD) Project—marking the company’s largest-ever capital investment.

The contracts focus on expanding processing units and enhancing operational efficiency at four key facilities: Asab, Buhasa, Habshan (Onshore), and Das Island (Offshore). Additional phases at Habshan and Ruwais are planned to boost production capacity in response to growing market demand.

The RGD project will develop new gas reservoirs to increase liquid gas exports, support UAE’s gas self-sufficiency, and supply feedstock to the expanding petrochemical sector. Phase 1 includes Engineering, Procurement, and Construction Management (EPCM) contracts awarded in three parts: $2.8 billion to Wood for Habshan; $1.2 billion to a Petrofac-led consortium for Das Island; and $1.1 billion to a Kent Plc-led consortium for Asab and Buhasa.

Fatema Al Nuaimi, CEO of ADNOC Gas, highlighted this milestone as central to achieving over 40% EBITDA growth by 2029, driving shareholder value and sustainable growth. The project also emphasizes In-Country Value by creating hundreds of technical jobs, supporting the UAE’s economic development.