ADNOC Gas Awards $3.6 Billion Contract to Expand UAE Gas Processing
(Reuters) — State oil giant Abu Dhabi National Oil Company's gas unit, ADNOC Gas, said on Wednesday it awarded a $3.6 billion contract to expand its gas processing infrastructure in the United Arab Emirates.
The contract was given to a joint venture between National Petroleum Construction Company Co. PJSC (NPCC), owned by Abu Dhabi state fund ADQ, and Spain's Tecnicas Reunidas, ADNOC Gas said in a statement.
The new gas processing facilities will allow an "optimized supply" to the Ruwais Industrial Complex in Abu Dhabi's western Al Dhafra region.
ADNOC Gas' Maximizing Ethane Recovery and Monetization project aims to boost ethane extraction by 35%-40% from its onshore facilities in the Habshan complex by building new processing facilities, as well as "unlock further value" from existing feedstock, delivering it to Ruwais through a 120-km (75 miles) natural gas liquids pipeline, the firm added.
ADNOC said over 70% of the contract's value would "flow back into the UAE's economy".
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