TotalEnergies has entered the Bab Gas Cap concession in Abu Dhabi, United Arab Emirates (UAE) with a 10% interest, joining a consortium led by ADNOC, which holds a 60% stake. <\/p>\n
Other participants in the project include bp (10%), CNPC (8%), JODCO\/INPEX (5%), ZhenHua (4%) and GS Energy (3%). <\/p>\n
The Bab Gas Cap concession, operated by ADNOC’s subsidiary ADNOC Onshore, encompasses the Bab onshore field. The concession partners aim to develop the field’s large gas cap resources, targeting a production rate of 1.5 billion cubic feet per day (bcf\/d). <\/p>\n
This development follows the 2015 renewal of the onshore oil concession, formerly known as ADCO, which was extended for 40 years. <\/p>\n
The Bab oilfield has historical significance in the region, with ADNOC’s initial oil exploration activities beginning with the drilling of wells at Ra’s Sadr in 1950. These efforts resulted in the commercial discovery of Murban crude in 1960 at the site now known as the Bab field. <\/p>\n
TotalEnergies chairman and CEO Patrick Pouyann\u00e9 said: “I would like to thank the Supreme Council for Financial and Economic Affairs of Abu Dhabi for its continued trust. <\/p>\n
“In the current context, this entry in a new concession underlines TotalEnergies’ commitment to stand alongside ADNOC, our historic partner in Abu Dhabi, and to keep contributing to the development of the UAE’s significant hydrocarbon resources. <\/p>\n
“The Bab Gas Cap project is well in line with TotalEnergies’ Upstream strategy by adding low-cost, low-emissions resources with significant potential for production growth.” <\/p>\n
TotalEnergies has previously been involved in collaborative efforts with ADNOC and other partners to advance Bab Gas Cap resources. <\/p>\n
The project also supports Abu Dhabi’s strategy to increase liquids production from condensates and boost gas output. It also strengthens Abu Dhabi’s liquefied natural gas (LNG) value chain, particularly the Ruwais LNG project, in which TotalEnergies holds a 10% stake. <\/p>\n
In a separate development last month, TotalEnergies signed a memorandum of understanding<\/a> with the Egyptian Natural Gas Holding Company covering exploration activities off the north-western coast of Egypt. <\/p>\n