Contract award
ADNOC Gas awards $8.2bn of Rich Gas Development contracts
By Staff Writer | 14 August 2026
ADNOC Gas has taken final investment decisions on phases 2 and 3 of its Rich Gas Development project and awarded $8.2bn of engineering, procurement and construction contracts, split $3.9bn to Wison Engineering and $4.3bn to Tecnimont.
The two awards were announced on 10 August alongside the company's second quarter results. Phase 2, which Wison Engineering will deliver, adds a natural gas processing train at the Habshan facility. Phase 3, which Tecnimont will deliver, adds a natural gas liquids fractionation train at Ruwais, aimed at recovering more of the higher value liquids carried in rich natural gas for export.
The two phases build on phase 1, announced in June 2025, which is expanding existing processing units across several gas assets to raise throughput. With the $5bn already committed to phase 1, total investment in the Rich Gas Development project reaches $13.2bn.
The company has raised its targeted earnings growth on the strength of the decisions, and now expects EBITDA growth of 60 per cent by 2030 against 2023, an upgrade from a previously stated target of more than 40 per cent over 2023 to 2029. It expects to invest approximately $28bn between 2026 and 2030 to deliver that ambition.
These strategic investments will significantly expand our natural gas processing and export capacity, unlock lasting value for our shareholders, and position ADNOC Gas at the heart of the UAE's energy future.
Fatema Al Nuaimi, Chief Executive Officer, ADNOC Gas
What sits behind the two contracts
The distinction between the two phases matters to anyone reading the award as a single project. They are separate scopes on separate sites. Habshan, inland in Abu Dhabi, takes the new processing train under phase 2. Ruwais, on the coast, takes the fractionation train under phase 3. A reader who takes the headline figure as the value of work at one location will misread both the geography and the split of risk between the two contractors.
The award also sits within a wider programme. ADNOC Gas describes four megaprojects running in parallel, Ruwais LNG, Maximizing Ethane Recovery and Monetization, the Rich Gas Development project and Estidama, which together are expected to generate $13.4bn in in-country value. The company states that MERAM is expected to be delivered in 2027, with Ruwais LNG and Estidama advancing as planned.
The operating background to the decision
The contracts were awarded in a quarter the company itself describes as disrupted. Net income for the second quarter was $665m, above the guidance range of $400m to $600m. The company points to resilient margins in the domestic gas business as the reason it came in above guidance.
Two security-related incidents at the Habshan site, on 3 and 8 April, cut supply. The company reports that its technical assessment is concluded and that recovery has run ahead of schedule, with gas supply restored to 85 per cent, above the year-end target it set in May. Separately, continued disruption to maritime movements through the Strait of Hormuz affected product liftings during the quarter.
Guidance reflects that. Third quarter net income is expected between $600m and $800m on the assumption that the maritime routes remain disrupted. If maritime operations are fully restored by the fourth quarter and pricing realisations normalise, the company expects full year net income of $3.5bn to $4bn.
Why practitioners should note the structure
Two points are worth carrying forward. The first is that a single announced figure covering two phases, two contractors and two sites will be reported in the trade press as one award, and the value attributed to whichever location the headline names. Anyone pricing subcontract or supply opportunities off that figure needs the split.
The second is the sequencing. Phase 1 was committed in June 2025 and is already expanding units in service. Phases 2 and 3 add new trains. Work on live assets alongside new build on the same estate raises the familiar questions of access, interface and possession that shape the delivery risk on both contracts, and those questions are settled in the contract rather than in the announcement.
A quarterly dividend of $940m was approved, payable in September 2026, with the progressive dividend policy reaffirmed.