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ADNOC May Delay Hail and Ghasha Project Amid COVID-19, Crude Oil Market Crisis, an Industrial Info Market Brief

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Industry Segment: Market Brief | Word Count: 107 Words

The United Arab Emirates' Abu Dhabi National Oil Company (ADNOC) is likely to delay until at least the end of April the submission date for commercial bids for four substantial packages comprising its $20 billion Hail & Ghasha offshore sour-gas development, according to Upstream. Due to COVID-19 and plunging crude prices, the project could face more delays. The sour-gas development is being touted as the emirate's largest Oil & Gas Production project this year, and is likely to add as much 1 billion cubic feet per day of gas from 2024 as part of ADNOC's long-term strategy.

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