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Deal will supply gas throughout the UAE
Shell has been chosen by the Abu Dhabi National Oil Company (ADNOC) to participate in a 30-year joint venture (JV) to develop the major Bab sour gas reservoirs in the Emirate of Abu Dhabi. Shell will hold a 40% equity 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 Bab sour gas reservoirs, which are 150 kilometres south-west of the city of Abu Dhabi.
It is intended that the JV will be the operator, and that the gas will supply the local market in the United Arab Emirates.
Peter Voser, Shell’s Chief Executive Officer, said: “Shell is honoured to have been selected by ADNOC to develop the Bab sour gas reservoirs. 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. We will also work closely with ADNOC to enhance the technical expertise of its workforce through effective knowledge transfer.
“We value our long and successful partnership with ADNOC, and look forward to continuing to play a role in helping the United Arab Emirates meet its energy needs.”
Royal Dutch Shell plc is incorporated in England and Wales, has its headquarters in The Hague and is listed on the London, Amsterdam, and New York stock exchanges.
Shell companies have operations in more than 70 countries and territories with businesses including oil and gas exploration and production; production and marketing of liquefied natural gas and gas to liquids; manufacturing, marketing and shipping of oil products and chemicals and renewable energy projects.
