Displaying items by tag: Abu Dhabi
Abu Dhabi National Oil Co. (ADNOC) has chosen Shell to participate in a 30-year JV to develop the major Bab sour gas reservoirs in Abu Dhabi.
Shell beat off competition from Total for the contract, reportedly worth up to £6.5 billion. It will hold a 40% stake in the JV, with ADNOC holding 60%.
The two companies will now enter a period of commercial and technical work leading to the development of the challenging sour gas reservoirs, 150km south-west of the city of Abu Dhabi. The JV is to be the operator, and that the gas will supply the local market in the UAE.
“We have more than 60 years’ experience of safe and successful sour gas field development globally and we will apply this experience, along with our leading research and development, and technology expertise, to the development of the Bab resource," said Peter Voser, Shell’s CEO.
"We will also work closely with ADNOC to enhance the technical expertise of its workforce through effective knowledge transfer," added Voser.