OMV’s CEO Rainer Seele was in Abu Dhabi this week to sign on the dotted line for a 5% stake at Adnoc’s Ghasha sour gas concession. The Austrian firm – 24.9% owned by Abu Dhabi through state investment fund Mubadala – joins Eni (25%) and Germany’s Wintershall (10%) at the project alongside Adnoc with its customary 60% (MEES, 30 November).
The concession aims to produce 1.6bn cfd of raw gas from three offshore fields – Ghasha, Hail and Dalma – but also covers Mubarraz, Nasr and Sarb. Gas will be piped onshore to Adnoc’s Ruwais hub where a processing plant is to be constructed. FEED work on the plant is slated to be completed in 1Q 2019. Adnoc says that “the project will also produce over 120,000 barrels of oil and high-value condensates per day.” (CONTINUED - 568 WORDS)