UAE’s ADNOC to Begin Production at Ras Al Sadr Gas Field

The field has production capacity of up to 100 million standard cubic feet of gas per day. WAM
The field has production capacity of up to 100 million standard cubic feet of gas per day. WAM
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UAE’s ADNOC to Begin Production at Ras Al Sadr Gas Field

The field has production capacity of up to 100 million standard cubic feet of gas per day. WAM
The field has production capacity of up to 100 million standard cubic feet of gas per day. WAM

The United Arab Emirates' state-owned energy giant ADNOC is to start production at the Ras Al Sadr gas field in Abu Dhabi, state news agency WAM reported on Thursday.

The field has production capacity of up to 100 million standard cubic feet of gas per day, WAM said.

Ras Al Sadr is being developed jointly by ADNOC and JODCO, a subsidiary of one of Japan’s largest oil and gas exploration and production companies, INPEX.

“The successful restart of operations in the Ras Al Sadr field highlights ADNOC’s commitment to setting new industry standards as we strive to responsibly meet the demands of an ever-changing energy market,” said ADNOC Upstream Executive Director Abdulmunim Saif Al Kindy.

“The first well at Ras Al Sadr was the start of Abu Dhabi’s oil industry that has powered the UAE’s economy for over half a century. This achievement underscores our contribution to the prosperity and sustainability of the country and reaffirms our commitment to operate in harmony with local communities to create lasting and sustainable value for the nation,” he added.



Saudi PIF, Hong Kong Monetary Authority Sign MoU on Investment Fund

The MoU was signed at FII 8th Edition in Riyadh. SPA
The MoU was signed at FII 8th Edition in Riyadh. SPA
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Saudi PIF, Hong Kong Monetary Authority Sign MoU on Investment Fund

The MoU was signed at FII 8th Edition in Riyadh. SPA
The MoU was signed at FII 8th Edition in Riyadh. SPA

The Public Investment Fund (PIF) and the Hong Kong Monetary Authority (HKMA) signed on Thursday a memorandum of understanding (MoU) to work towards jointly anchoring a new investment fund, with a target size of $1 billion.

The MoU was signed at FII 8th Edition in Riyadh.

Under the MoU, the fund would explore investment in manufacturing, renewables, fintech, and healthcare, supporting the localization of companies connected to Hong Kong and the Greater Bay area in Saudi Arabia. It would create highly skilled local jobs and drive economic growth by fostering regional champions in the target sectors. It would reinforce Hong Kong’s position as one of the world’s leading financial hubs, leveraging its diverse talent pool, efficient financial infrastructure and deep liquidity. The signing of this MoU is a new milestone that underlines the economic ties between two leading institutions: PIF and HKMA.

The proposed new fund aligns with PIF’s economic diversification and sustainability strategy.

This partnership has the potential to drive shared prosperity by investing in industries that will shape future economies. It combines HKMA’s long-term investment expertise with PIF’s strategy for the target sectors.

The new fund would promote foreign direct investments via Hong Kong, providing a platform for companies to internationalize their businesses and access attractive investment opportunities in Saudi Arabia.