Abu Dhabi’s ADNOC announces a new offshore gas find

By AYA BATRAWY
Associated Press

DUBAI, United Arab Emirates (AP) — Abu Dhabi’s state-owned oil and gas company has announced the discovery of between 1.5 to 2 trillion standard cubic feet of raw gas in an offshore area located in the northwest of the emirate. The Abu Dhabi National Oil Company, also known as ADNOC, said the discovery came about in partnership with a consortium led by Italy’s Eni and Thailand’s PTT Exploration and Production Company Limited, which were awarded concession rights in the area. The UAE holds the seventh-largest proven reserves of natural gas in the world. Despite its large natural gas fields, the UAE also imports natural gas due to its extensive domestic use in operating power plants and desalination plants.