Wood and Petrofac have successfully secured major contracts from Adnoc Gas as part of the new Rich gas development project in the United Arab Emirates. This groundbreaking project, which has seen a substantial investment of $5 billion for its initial phase, marks a significant milestone in Adnoc Gas’ strategic plan to achieve over 40% EBITDA growth between 2023 and 2029.
According to Adnoc Gas CEO Fatema Al Nuaimi,
“The FID and contract awards for the first phase of the Rich Gas Development project mark a significant milestone in Adnoc Gas’ strategy to deliver significant new value for our shareholders and enable continued sustainable growth for the company, our employees, and the UAE.”
Wood was awarded a substantial $2.8 billion contract for engineering, procurement, and construction management work on the Habshan facility. The scope of work includes extensive upgrades and debottlenecking for both the existing Habshan and Habshan 5 gas processing mega-complexes and pipelines. Wood CEO Ken Gilmartin expressed pride in contributing to such a critical initiative, stating that
“the Rich plan was pivotal to the UAE’s energy security strategy and broader economy.”
With more than 500 workers based in Abu Dhabi supported by their global offices, Wood is set to complete its portion of the project by the end of 2027.
Petrofac also clinched a significant contract worth $1.2 billion for work on the Das Island liquefaction facility. The company’s responsibilities include constructing a new inlet facility along with two gas dehydration and compression trains, each boasting a capacity of 420 million cubic feet per day. Additionally, Petrofac will be enhancing existing facilities to boost site capacity for collecting and transporting raw natural gas.
Kent secured another vital contract valued at $1.1 billion for projects at Asab and Buhasa as part of this comprehensive development initiative.
Adnoc Gas further elaborated that besides optimizing existing assets through debottlenecking measures, they are also focused on securing new gas streams as part of this ambitious project. The Asab, Buhasa, Habshan facilities are located onshore while Das Island liquefaction operates offshore with a rich history dating back to its establishment in 1977.
This monumental endeavor is not just about meeting current demands but preparing ahead for future needs as well. The next phases involving Habshan and Ruwais are designed to significantly increase production capacity aligning with growing market requirements.
In conclusion, these contracts signify not only an infusion of financial investments into critical infrastructure but also underline a commitment towards sustainable growth within the region’s energy sector.
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