His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO and Claudio Descalzi, CEO of ENI have signed the first of a series of concession agreements with Italy’s multinational oil and gas company, ENI, awarding it a 25% stake in its offshore ultra-sour gas mega project. The Ghasha Concession, which has a term of 40 years, consists of the Hail, Ghasha, Dalma and other offshore fields. Eni will contribute 25% of the development cost to enter the concession.
The Hail, Ghasha and Dalma ultra-sour gas project will tap into the Arab basin, which is estimated to hold multiple trillions of standard cubic feet of recoverable gas. The project is expected to produce more than 1.5 billion cubic feet of gas per day when it comes on stream around the middle of the next decade. The Ghasha Concession is expected to produce enough gas to provide electricity to more than two million homes. Once complete, the project will also produce over 120,000 barrels of oil and high value condensate per day.
The Hail, Ghasha and Dalma project will apply state-of-the-art smart technologies. It will leverage the latest digital innovations to ensure remote access to all key activities across the project’s natural and artificial islands, platforms and well-head towers. All the project’s remote facilities will be operated from a single control center, in Al Manayif.
In addition to developing the Ghasha Concession area, ADNOC also plans to increase production from its Shah field to 1.5 billion cubic feet per day and move forward to develop the sour gas fields at Bab and Bu Hasa.