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Juki pm 1 torrent. Abu Dhabi -- The Abu Dhabi government and the Abu Dhabi National Oil Company (ADNOC) have signed the first of a series of concession agreements with Italy’s multi-national oil and gas company, ENI, awarding it a 25% stake in its offshore ultra-sour gas mega project. The Ghasha Concession consists of the Hail, Ghasha, Dalma and other offshore fields. Eni will contribute 25% of the development cost of the multi-billion U.S. Dollar project. The announcement follows the Supreme Petroleum Council’s approval of ADNOC’s new gas strategy, targeted to unlock and maximize value from Abu Dhabi’s substantial available gas reserves, as the UAE moves towards gas self-sufficiency and aims to transition from a net importer of gas to a net gas exporter. The concession, which has a term of 40 years, was signed by His Excellency Dr.
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Sultan Ahmed Al Jaber, UAE minister of state and ADNOC Group CEO and Claudio Descalzi, CEO of ENI. Over the project’s life-time, substantial benefits will flow back into the UAE economy under ADNOC’s in-country value program, which is designed to stimulate commercial opportunities, for local businesses, catalyze socio-economic development, develop an ultra-sour gas hub for the region and create additional employment opportunities for UAE nationals. Al Jaber said, “ADNOC is committed to ensuring a stable and economic gas supply to the UAE, which is a core component of our 2030 strategy.