ADNCO secures joint financing of up to $11bn for gas development

UAE – Mubasher: Abu Dhabi National Oil Company (ADNOC) and Eni signed a landmark structured financing agreement with PTT Exploration and Production Public Company Limited (PTTEP). The deal aims at securing financing of up to $11 billion (AED 40.40 billion) to monetize Hail and Ghasha’s midstream future gas production, according to a press release. Located offshore Abu Dhabi, Hail and Ghasha is part of the larger Ghasha Concession, which is expected to produce 1.80 billion standard cubic feet per day (bscfd) ...