Abu Dhabi: The joint venture agreement renewal for Abu Dhabi Gas Industries Ltd (Gasco) was signed on Tuesday between its shareholders - Abu Dhabi National Oil Company (Adnoc), Shell Abu Dhabi B.V., Total S.A., and Partex Gas Corporation.
The agreement was signed by Yousuf Omair Bin Yousuf, the secretary-general of the Supreme Petroleum Council and chief executive of Adnoc; Malcolm Brinded, exploration and production director for Shell; Yves Louis Darricarrere, president of Exploration and Production at Total; and Eduardo Marcal Grilo, president of the board of directors at Partex.
Signed in 1978 under the directives of the late Shaikh Zayed Bin Sultan Al Nahyan to develop Abu Dhabi's onshore associated gas resources, the original agreement lasted for 30 years.
During this period, Gasco has produced marketable liquids from previously flared associated gases, thus making a major contribution to Abu Dhabi economic growth and acting as a precursor to reduce gas flaring and related air emissions.
Gasco has developed recognised gas processing expertise which was further consolidated in 2001 when Gasco was assigned the management of Adnoc's onshore gas operations (Atheer).
Today, Gasco is a market leader in the processing of associated and non-associated gas, producing sales gas, ethane, propane, butane, paraffinic naphta, condensate, and sulfur while also playing a central role in Abu Dhabi's onshore hydrocarbon and energy chain.
Gasco's priorities include safety, environmental protection, operational excellence, quality management, and people development with special emphasis on its UAE national employees.