Ghasha Gas Project in UAE With LUKOIL Participation May be Launched in 2022 - Company
The launch of the Ghasha offshore gas project in the United Arab Emirates (UAE) with the participation of Russia's LUKOIL energy company is possible in 2022, according to the company's presentation unveiled on Wednesday
MOSCOW (Pakistan Point News / Sputnik - 11th March, 2020) The launch of the Ghasha offshore gas project in the United Arab Emirates (UAE) with the participation of Russia's LUKOIL energy company is possible in 2022, according to the company's presentation unveiled on Wednesday.
In October 2019, the Abu Dhabi government and the Abu Dhabi National Oil Company (ADNOC) have sold LUKOIL a 5-percent stake in the offshore Ghasha ultra-sour gas concession for $190 million.
The project is expected to produce over 40 million cubic meters per day of natural gas and 120,000 barrels per day of crude oil and gas condensate.
LUKOIL, ADNOC and the Russian Direct Investment Fund (RDIF) signed a tripartite agreement on future cooperation under the concession, which comprises the Hail, Ghasha, and Dalma sour gas fields.