Abu Dhabi National Oil Company finalizes $6.2 billion investment decision for Umm Shaif gas project.

On July 21, the Abu Dhabi National Oil Company officially made a final investment decision of $6.2 billion for the Umm Shaif Gas Cap Development Project, partnering with energy companies such as Total, Eni, and China National Petroleum Corporation. Together, they will develop the Umm Shaif gas cap oil and gas resources in Abu Dhabi, accelerating the implementation of global integrated natural gas development strategies. The UAE's natural gas reserves rank seventh in the world. Once completed, the project will be able to produce over 600 million standard cubic feet of natural gas per day, which is close to 10% of the country's current daily natural gas consumption. The project is expected to start production in 2030. This investment includes three engineering, procurement, and construction contracts, as well as a plan to drill and develop 14 wells simultaneously.