Adnoc Gas has announced that its Habshan processing complex is now operating at 85 percent capacity, a recovery milestone achieved ahead of the company’s original schedule. This progress follows two separate incidents at the facility in April that initially reduced processing capacity to 60 percent. The company confirmed that its technical assessment of the damage is complete, and the current restoration level has already surpassed the 80 percent year-end target established in May.
Despite the operational challenges at Habshan, the company delivered a robust financial performance for the second quarter of 2026, reporting a net income of $665 million. This figure exceeded the initial guidance range of $400 million to $600 million provided earlier in the year. Building on this momentum, Adnoc Gas has raised its growth ambitions, now targeting a 60 percent increase in EBITDA by 2030 compared to 2023 levels, an upgrade from its previous 40 percent target for the 2023-2029 period. To support these goals, the firm plans to invest approximately $28 billion between 2026 and 2030.
The company continues to prioritize shareholder returns as the largest dividend payer on the Abu Dhabi Securities Exchange. It has approved a quarterly dividend of $940 million for payment in September 2026, maintaining its commitment to a 5 percent annual dividend growth rate through 2030.
Strategic expansion remains a core focus, with four major projects currently underway: Ruwais LNG, the Maximizing Ethane Recovery and Monetization (MERAM) project, the Rich Gas Development (RGD) project, and Estidama. These initiatives are projected to generate $13.4 billion in In-Country Value. While MERAM is slated for completion by 2027, the Ruwais LNG and Estidama projects are also moving forward according to plan. Additional developments, such as the Bab Gas Cap and Umm Shaif Gas Cap, are expected to further bolster gas production, processing volumes, and export capabilities.
Investment in the RGD project has reached $13.2 billion following the recent award of $8.2 billion in engineering, procurement, and construction (EPC) contracts for the project’s second and third phases. Wison Engineering secured the $3.9 billion Phase 2 contract, which involves adding a new natural gas processing train at Habshan. Tecnimont was awarded the $4.3 billion Phase 3 contract to construct a new natural gas liquids fractionation train at Ruwais, designed to improve the recovery of high-value liquids for export.
These new contracts build upon the $5 billion Phase 1 investment announced in June 2025, which focused on upgrading key processing units to enhance throughput and operational efficiency. The ongoing RGD project is expected to benefit significantly from increased associated gas volumes as Adnoc continues to scale its overall production capacity.
The gas processing company said on Monday that 85 per cent of its gas supply is restored, ahead of its planned schedule.
Adnoc Gas earlier said that immediately after the two incidents, which happened separately on different days, the complex’s processing capacity was restored to 60 per cent, with aims to have it restored by 80 per cent by
“The Company has concluded its technical assessment of the impact from these incidents and recovery has progressed ahead of schedule, with gas supply already restored to 85 per cent, surpassing the year-end target set in
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Source: Khaleej Times
