Wintershall acquires stake in ADNOC concession
Wintershall has been awarded a 10% interest in the Ghasha offshore ultra-sour gas mega-project, marking the first time a German oil and gas company has joined an Abu Dhabi National Oil Company (ADNOC) concession.
The Ghasha concession consists of the Hail, Ghasha, Dalma and other offshore sour gas fields, including Nasr, SARB and Mubarraz. The project is expected to produce over 1.5bn cf/d of gas when it comes onstream, around the middle of the next decade, enough to provide electricity to more than 2mn homes. Once complete, the project will also produce more than 120,000 b/d of oil and high value condensates.
Eni of Italy was awarded a 25% stake in Ghasha in November 2018.
In addition to developing the Ghasha concession area, ADNOC plans to increase production from its Shah field to 1.5bn cf/d and move forward to develop the sour gas fields at Bab and Bu Hasa. The company is also to unlock other sources of gas, including Abu Dhabi’s giant Umm Shaif gas cap and the Emirate’s unconventional gas reserves, as well as new natural gas accumulations, which will continue to be appraised and developed as the company pursues its exploration activities. (Click here for more details.)