(World Oil) – ADNOC Gas has taken final investment decisions (FID) on the next phases of its Rich Gas Development (RGD) project, awarding $8.2 billion in engineering, procurement and construction (EPC) contracts that will expand natural gas processing capacity and support the company’s long-term growth strategy.
The awards include a $3.9 billion Phase 2 contract to Wison Engineering and a $4.3 billion Phase 3 contract to Tecnimont. Combined with the $5 billion Phase 1 investment announced in 2025, total investment in the RGD program now stands at $13.2 billion.
The investment prompted ADNOC Gas to increase its long-term growth outlook, raising its targeted EBITDA growth to 60% by 2030 compared with 2023 levels, up from a previous target of more than 40%. The company expects to invest approximately $28 billion between 2026 and 2030 across its portfolio of gas growth projects.
“This is a defining moment for ADNOC Gas,” said CEO Fatema Al Nuaimi. “With the final investment decision and contract awards for the Rich Gas Development Project, we are accelerating one of the world’s largest gas-processing growth programs while expanding our natural gas processing and export capacity.”
Phase 2 will add a new gas processing train at the Habshan complex, increasing processing capacity and supporting the UAE’s growing downstream and petrochemical sectors. Phase 3 will add a new natural gas liquids (NGL) fractionation train at Ruwais to increase recovery of higher-value liquids for export.
The company said the RGD project forms part of a broader gas growth strategy that also includes the Ruwais LNG, MERAM and Estidama projects, strengthening ADNOC’s integrated gas value chain and supporting future LNG exports.
ADNOC Gas also reported second-quarter net income of $665 million, exceeding its guidance range despite continued disruptions to maritime traffic through the Strait of Hormuz. The company said gas supply at the Habshan complex has already recovered to 85%, ahead of schedule following security-related incidents earlier this year.
