Abu Dhabi National Oil Co. (ADNOC) and partners announced July 21 a final investment decision for the massive offshore Umm Shaif Gas Cap project, estimated as a $6.2 billion development and set for production in 2030. Development of the Umm Shaif gas cap, a natural gas layer that covers an underground UAE oil reservoir operating since 1958 offshore of Abu Dhabi, would boost the country's gas for domestic use and enhance its LNG production and export capacity, ADNOC said. UAE holds the seventh largest gas resources in the world. The project has been weighed for some years and is part of the company’s announced integrated gas strategy to commercialize the Umm Shaif gas supply. ADNOC holds 60%, with TotalEnergies at 10% and several smaller stakeholders.