TotalEnergies to Acquire 10% Stake in Bab Gas Cap Concession in Abu Dhabi

Corporate Action
โดย Insider Monkey·Read original
Summary · why it matters

TotalEnergies has agreed to acquire a 10% interest in the Bab Gas Cap Concession in Abu Dhabi. ADNOC holds a 60% stake and operates the concession, with other partners including GS Energy at 3%, ZhenHua at 4%, JODCO/INPEX at 5%, CNPC at 8%, and BP at 10%. The project has a planned capacity of 1.5 billion cubic feet per day and will utilize the Bab onshore field to develop substantial gas cap resources. It builds on the 40-year renewal of the Onshore Oil Concession from 2015 and aligns with Abu Dhabi's plan to increase gas output and liquids production while strengthening its LNG value chain, including the Ruwais LNG project in which TotalEnergies also holds a 10% stake.

Impact on stocks 3

Energy Transition & Power Demand▲ · 2 stocks
Inpex Corporation
1605
▲ PositiveDemandrelevance

Inpex (via JODCO) holds a 5% stake in the Bab Gas Cap Concession, benefiting from gas development.

BP PLC
BP
▲ PositiveCompetitionDemandrelevance

BP is mentioned as a 10% partner in the concession, but the news is about TotalEnergies' acquisition, not BP's own stake change.

Energy▲ · 1 stocks
TotalEnergies SE
TTE
▲ PositiveDemandCapitalrelevance

TotalEnergies is acquiring a 10% stake in the Bab Gas Cap Concession, expanding its gas portfolio in Abu Dhabi.

Theme Impact 1

Off-coverage companies 2

Abu Dhabi National Oil Company (ADNOC)Private▲ Positive
Demandrelevance

ADNOC holds a 60% stake and operates the concession, aligning with its plan to increase gas output.

Japan Oil Development Co., Ltd. (JODCO)Private▲ Positive
Demandrelevance

JODCO holds a 5% stake in the Bab Gas Cap Concession, benefiting from gas development.

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