Tuesday, Oct 06, 2015
Abu Dhabi: The Shah gas project, which is being developed by Al Hosn company to tap sour gas in the Western region of Abu Dhabi has reached its full capacity, a top company official said in Abu Dhabi on Tuesday.
“We started the project early this year and we ramped up. We are in now full production of one billion cubic feet per day,” said Saif Ahmad Al Gafli, chief executive officer of Al Hosn Gas.
Al Hosn is a 60-40 joint venture between Abu Dhabi National Oil Company (Adnoc) and Occidental Petroleum (Oxy) from the US. The total investment in the project is estimated to be about $10 billion (Dh36.7 billion).
The Shah gas project located about 210 kilometres south-west of Abu Dhabi is expected to contribute significantly to the energy needs of the UAE for over 30 years.
Al Gafli was speaking to reporters on the sidelines of a press conference to announce details of the upcoming Abu Dhabi Petroleum Exhibition and Conference (Adipec) from November 9 to 12.
Speaking about oil price fluctuations, he said it is not unique and the oil price has been moving up and down for many years.
“This industry is not really affected by short term fluctuations,” he said.
The four-day conference is set to attract thousands of delegated from across the globe.
According to the organisers, more than 2,000 companies will take part in the event and there will be a number of sessions to discuss current trends in the energy sector.
The UAE Energy Minister Suhail Al Mazroui will take part in the event along with top industry experts.
Award winning author Dr Daniel Yergin will deliver the keynote address on the global energy demand and the recent developments in the areas of conventional and unconventional hydrocarbon resources.
According to the organisers, there will be two dedicated ministerial sessions and two CEO plenary sessions that will bring together international and regional ministers, industry chiefs and decision makers to discuss and address the challenges presented by the new energy landscape.
This year, Adipec will be launching a dedicated Offshore, Marine and Heavy Equipment Zone that will throw light on the latest developments in the offshore sector.
“Newfield discoveries indicate the future of oil and gas lies offshore, and this creates the pressing need for a dedicated platform where experts from the sector can meet with the common goal of sustainably advancing offshore exploration and production,” said Jean-Philippe Cosse, Adipec 2015 Event Director at dmg events.
By Fareed Rahman Senior Business Reporter
Gulf News 2015. All rights reserved.
