ADNOC Gas said its Habshan complex, which sustained damage on 3 and 8 April due to the ongoing US-Israel and Iran conflict, will be fully operational in 2027.

Almost 60 percent of the complex’s processing capacity was restored within a short period, and work is currently ongoing to achieve 80 percent restoration by the end of 2026, the company said in its first-quarter financial statement published on the Abu Dhabi Securities Exchange.

A detailed technical assessment of the impact from these incidents is progressing amid a dynamic supply chain environment and is nearing completion.

Although some processing trains at Habshan remain offline, overall supply across the ADNOC Gas network has been substantially restored, allowing the company to continue meeting domestic customer demand through its broader infrastructure.

Additionally, Phase 1 of the Rich Gas Development project is forecast to further ease bottlenecks and enable ADNOC Gas to capitalise on increased upstream associated gas output following the recent lifting of production constraints.

The company reported an 18 percent year-on-year (YoY) drop in revenues to $5 billion, while net profit fell 15 percent YoY to $1.1 billion.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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