ABU DHABI, December 19, 2025: Abu Dhabi National Oil Company (ADNOC) announced on Thursday the completion of a landmark structured financing agreement valued at up to AED 40.4 billion ($11 billion) to advance the Hail and Ghasha offshore gas development. The financing, arranged in partnership with Italy’s Eni S.p.A. and Thailand’s PTT Exploration and Production Public Company Limited (PTTEP), represents one of the largest structured funding transactions in the global energy sector. The agreement enables ADNOC to monetize future midstream gas production from the Hail and Ghasha fields, part of the broader Ghasha concession, while maintaining strategic and operational control over the assets. The development is designed to enhance the UAE’s gas self-sufficiency and provide secure energy supplies for domestic industries.
UAE offshore gas project advances with ADNOC’s landmark $11 billion agreement.
Located offshore Abu Dhabi, the Ghasha concession is expected to produce about 1.8 billion standard cubic feet of natural gas per day when fully operational. ADNOC stated that more than 60 percent of the total investment will flow back into the national economy through its In-Country Value (ICV) program. The initiative is part of ADNOC’s ongoing commitment to strengthen the UAE’s economic base by ensuring that a significant portion of project expenditure benefits local businesses and industries. The Hail and Ghasha project reinforces the company’s position as a key driver of sustainable growth and industrial development within the country. The project is also notable for its environmental innovation, as it is set to become the world’s first gas development designed to operate with net-zero emissions.
The initiative includes carbon capture and storage capacity of approximately 1.5 million tonnes of carbon dioxide per year, equivalent to removing more than 300,000 vehicles powered by fossil fuels from the roads annually. In addition, the development will utilize fully unmanned offshore operations and advanced digital solutions integrated through ADNOC’s Thamama Centre of Excellence to enhance efficiency, optimize operations, and support real-time decision-making. Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO, said the financing reflects ADNOC’s continued success in attracting global capital and forging strategic partnerships. He noted that the high level of participation from more than 20 regional and international financial institutions underscores strong investor confidence in ADNOC’s financial structure and its track record in delivering large-scale energy infrastructure projects.
Investment strengthens UAE’s gas self-sufficiency goals
The transaction’s non-recourse structure, which is uncommon for energy developments of this magnitude, allows ADNOC and its partners to raise capital at competitive rates without recourse to corporate balance sheets. The innovative financing model isolates midstream facilities and operations into a separate commercial framework, enabling the company to access funding efficiently while maintaining ownership and operational authority over critical infrastructure. The Hail and Ghasha financing follows a decade of major infrastructure and investment partnerships that have positioned ADNOC among the global leaders in project financing and capital efficiency. These include the $4.9 billion oil pipeline partnership, a $10.1 billion gas pipeline agreement, and two build-own-operate-transfer (BOOT) projects worth $3.8 billion and $2.2 billion, aimed at powering and decarbonizing offshore operations and delivering sustainable water supplies to onshore facilities.
Together, these initiatives have strengthened ADNOC’s financial position and enhanced its ability to deliver complex infrastructure projects at scale. The financing consortium for the Hail and Ghasha project includes leading global and regional banks such as First Abu Dhabi Bank, Abu Dhabi Commercial Bank, Citibank, Bank of China, Standard Chartered Bank, Mizuho Bank, MUFG Bank, Sumitomo Mitsui Banking Corporation, Saudi National Bank, Emirates NBD, and others. Their participation highlights continued confidence in the UAE’s energy sector and ADNOC’s ability to structure competitive and sustainable financial solutions for large-scale developments. The Hail and Ghasha fields are integral to ADNOC’s broader gas strategy, which aims to develop the UAE’s natural gas resources to meet rising domestic demand and support industrial growth.
ADNOC’s approach sets new benchmark for energy financing
The project aligns with national energy priorities to ensure long-term supply security while advancing sustainability objectives through lower emissions and enhanced efficiency. ADNOC’s structured approach to project financing has become a benchmark for the energy industry, demonstrating how innovative financial models can unlock capital, attract global investment, and accelerate the development of strategic assets. The completion of the Hail and Ghasha financing marks another milestone in ADNOC’s ongoing program to deliver responsible, resilient, and sustainable energy solutions that contribute to the UAE’s economic growth and energy security goals. – By Content Syndication Services.