OMV takes stake in Abu Dhabi gas asset
ABU DHABI, December 19, 2018 – OMV has been awarded a 5% stake in the Ghasha gas concession, a recently delineated ultra-sour gas asset in Abu Dhabi, the Austrian company announced on Wednesday.
Under development by ADNOC as a 40-year concession, the Ghasha project includes the Hail, Ghasha and Dalma offshore gasfields along with other smaller assets including Satah Al Razboot, Nasr and Mubarraz.
It is expected to produce around 42.5 mcm (1.5 bcf) per day of sour gas and supply 20% of the UAE’s gas demand when it is complete in the mid-2020s. It will also contribute more than 120,000 boepd of oil and condensate.
The project was announced in November 2018, when ADNOC and Eni signed a concession agreement, awarding the Italian company a 25% stake in the project. In the same month, ADNOC awarded a 10% stake in the project to Wintershall.