The deal strengthens TotalEnergies’ position in Abu Dhabi’s gas expansion, targeting 1.5 billion cubic feet per day capacity.
TotalEnergies (TTE) has acquired a 10% stake in Abu Dhabi’s Bab Gas Cap Concession, aligning with partners including ADNOC, BP, and CNPC. The project aims to develop gas cap resources with a planned capacity of 1.5 billion cubic feet per day.
ADNOC holds a 60% stake and operates the concession, which builds on a 2015 onshore oil agreement. The initiative supports Abu Dhabi’s strategy to boost gas output and LNG production, including the Ruwais LNG project where TotalEnergies also holds a 10% interest.
The deal underscores TotalEnergies’ focus on expanding its gas portfolio amid growing demand for energy transition fuels. No immediate market reaction was disclosed.