bp Joins Abu Dhabi's Bab Gas Cap Project With 10% Stake

bp has acquired a 10% stake in Abu Dhabi's Bab Gas Cap concession, a project expected to produce up to 1.5 Bcf/d of natural gas and support ADNOC's LNG expansion strategy.

(P&GJ) — bp has signed a concession agreement to acquire a 10% interest in the Bab Gas Cap project in Abu Dhabi, joining ADNOC and its partners in a natural gas development expected to produce up to 1.5 billion cubic feet per day (Bcf/d).

Located within the Bab Field, one of Abu Dhabi's largest onshore oil fields, the project will develop three gas cap reservoirs and produce both natural gas and condensate. The development is expected to support the United Arab Emirates' goal of increasing domestic gas supply while providing additional feedstock for ADNOC's expanding liquefied natural gas (LNG) business.

Under the concession, ADNOC holds a 60% interest, while bp owns 10%. Other partners include TotalEnergies, CNPC, INPEX, ZhenHua Oil and GS Energy. bp will continue serving as asset lead for the Bab Oil Field.

"The Bab Gas Cap project continues bp's track record in discovered resource access opportunities," the company said, citing similar projects in Iraq, India and Azerbaijan.

The agreement further expands bp's long-standing presence in Abu Dhabi, where the company has operated for more than 85 years. In addition to its stake in the Bab Gas Cap concession, bp holds interests in ADNOC Onshore, ADNOC LNG, the National Gas Shipping Company and the Ruwais LNG development.