Adnoc this week announced two separate deals in which it secured a total of $13bn for its operations. The deals came shortly after Adnoc’s board approved a $150bn investment plan out to 2030.
The first, and largest deal, was an $11bn structured financing transaction announced on 18 December unlocking capital from its 1.8bn cfd Hail and Ghasha sour gas development (Adnoc 80%, Eni 10%, PTTEP 10%). Adnoc last month took over Lukoil’s 10% stake, with the Russian firm subject to stringent US sanctions (MEES, 31 October). The partners aim to bring the first phase online imminently, reaching full 1.8bn cfd capacity by 2030. (CONTINUED - 212 WORDS)