Abu Dhabi National Oil Company (Adnoc) is planning to invest more than $7 billion by 2009 to expand its natural gas liquids production, a top official said yesterday.
Nasser Al Shammari, an adviser to Adnoc told Gulf News that the company seeks this expansion to achieve its targeted goal to become the world’s biggest NGL producer by 2010.
“We will double our current natural gas liquids production from 5.3 billion standard cubic feet to 10.5 billion in 2010, when the construction of the projects is completed,” added Al Shammari.
He said that the gas will be exported by Abu Dhabi Gas Company (Adgas).
“We have also the city gas project which is handled by Adnoc Distribution to supply the gas to houses in Abu Dhabi city in first phase, and then extend the pipes to the new developments and the industrial areas,” he added.
When asked about Abu Dhabi’s gas resources, Al Shammari said that Adnoc is working on sizable reserves that contain a higher content of hydrogen sulphide and carbon dioxide. The proven gas reserves in Abu Dhabi rank fifth after those of Russia, Iran, Qatar and Saudi Arabia.
More than $7 billion has been approved for the expansion of the gas processing facilities until 2009. This includes a pipeline (strategic link) between the offshore and onshore gas facilities.
Five major projects will also be started in late 2009 in total.