ADNOC Gas has awarded a contract worth 13.1 billion dirhams ($3.6 billion) to a joint venture between the National Petroleum Construction Company and Tecnicas Reunidas SA Abu Dhabi to expand gas processing infrastructure in the UAE.
The scope of the contract works includes the operation of new gas processing facilities to provide a reliable supply of feedstocks to the Ruwais Industrial Complex, according to what the company explained in a disclosure statement on the Abu Dhabi Stock Exchange today, Wednesday.
The strategic expansion project known as Miram seeks to accelerate the recovery and liquefaction of ethane with two main objectives; Increasing ethane extraction by between 35% and 40% from the company’s existing onshore facilities in the Habshan complex by constructing new gas processing units, achieving additional value from existing feedstocks and transporting them to Ruwais through a 120-kilometre pipeline dedicated to transporting natural gas liquids.
Ahmed Al-Abri, CEO of ADNOC Gas, said: This project, which is the company's latest capital investment to expand gas processing infrastructure, confirms its firm commitment to contributing to meeting the current and future demand of its customers for natural gas and feedstocks.
ADNOC Gas provides about 60% of the sales gas needs in the UAE, and sells its products to customers in more than 20 countries.
The giant energy company in Abu Dhabi, ADNOC, raised $ 2.5 billion from the gas business offering, which is considered one of the largest initial offerings around the world during 2023, as the state-owned ADNOC sold a 5% stake in the company, which is valued at about $ 50 billion.
ADNOC Gas is one of the largest gas processing entities in the world, with a capacity of 10 billion cubic feet per day across eight onshore and offshore sites and a pipeline network extending over 3,250 km (2019 miles).
