The offshore block consists of three fields –Belbazem, Umm Al Salsal and Umm Al Dholou.
Adnoc has the majority 60 per cent stake in Al Yasat, with the remainder held by China’s CNPC. NPCC was selected after a rigorous tender process that ensures it will deploy best-in-class technology and expertise to execute this strategic project, with a substantial part of the award value flowing back into the UAE’s economy, said Yaser Almazrouei, Adnoc upstream executive director said in a statement on Tuesday.
Around 65 per cent of the award value will flow back to the UAE, according to Adnoc s in-country value programme.
Adnoc, which produces and sells oil on behalf of the UAE, Opec s third-largest producer, has been looking to develop its gas resources.
The company has the potential to produce 11 billion cubic feet per day of natural gas and over 1 billion cf/d of sour gas. A significant proportion of gas fields in Abu Dhabi are sour, a term that refers to the presence of sulphurous compounds in the gas.
The national oil company is also the main provider of natural gas to industries in the UAE, accounting for more than two-thirds of supply.
“This agreement will ensure the security of supply and cost of natural gas to our plants, and demonstrates Adnoc s continued support of the UAE’s industrial sector, said Emirates Steel chief executive Saeed Al Remeithi.
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Abu Dhabi National Oil Company will develop a massive blue ammonia project at its downstream hub in Ruwais, as it looks to grow the UAE s hydrogen economy.
The company is advancing the design phase of the planned facility at the Ta ziz industrial ecosystem, which is being developed with ADQ at Ruwais.
The facility will have a capacity to produce 1,000 kilotonnes of ammonia per year, Adnoc said in a statement on Monday.
Blue ammonia is a more easily transportable fuel source made from blue hydrogen, which is itself produced as a byproduct of carbon dioxide that has been captured and stored. The blue aspect of the product refers to the hydrogen derived from natural gas feedstocks.