DUBAI — Abu Dhabi National Oil Company’s gas entity, ADNOC Gas, said on Wednesday it awarded a $3.6 billion contract to expand its gas processing infrastructure in the United Arab Emirates (UAE). ADNOC noted that the majority of the deal's value will "flow back into" the country’s economy, which the state-owned oil giant has been working to develop via major moves to establish assets and investments with global partners.
ADNOC Gas announced it would award the contract to a joint venture between the National Petroleum Construction Company — owned by state fund ADQ — and Spain’s Tecnicas Reunidas, according to a company press statement on Wednesday. The deal aims to produce new gas processing facilities to enable an optimized supply to the Ruwais Industrial Complex in the capital’s western region of Al Dhafra.
As part of the project, ADNOC Gas aims to raise ethane extraction by up to 40% from its existing onshore facilities in the Habshan complex. It also plans to “unlock further value” from existing feedstock and deliver it through a 75-mile (120-kilometer) natural gas liquids pipeline.
More than 70% of the award value will be injected back into the UAE’s economy, the press statement added.