Wintershall received a 10 percent stake in the gas concession in the UAE


German energy company Wintershall reported that the government of the United Arab Emirates had given it an approval for the development of the Gash gas field for 40 years. The gas field is located near the coast of the Persian Gulf. Thus, the German company now owns a 10 percent stake in the development concession. In addition to Wintershall, Italian company Eni with a 25% stake is a partner of state-owned oil company UAE ADNOC. According to ADNOS estimates, by the middle of 2028, 1.5 billion cubic feet of gas and 120,000 barrels of oil and condensate will be extracted per day at the gas field.

The information and recommendations contained in this analytical document are published strictly for information purposes and are not considered as an offer to buy or sell the trading tools mentioned above and are not intended to motivate to perform certain transactions
Something went wrong