TotalEnergies Acquires 10% Stake in Bab Gas Concession in Abu Dhabi
TotalEnergies has secured a 10% stake in the Bab Gas Cap concession in Abu Dhabi. This new concession will enable the development of the gas dome resources of the Bab onshore field, aiming for a production capacity of 1.5 billion cubic feet per day.
TotalEnergies has joined an international consortium consisting of ADNOC (60%), BP (10%), CNPC (8%), JODCO/INPEX (5%), ZhenHua (4%), and GS Energy (3%). The project will be operated by ADNOC Onshore and follows the renewal of the 40-year onshore oil concession in the United Arab Emirates in 2015. This entry represents a significant growth opportunity for the French major, thereby strengthening its presence in the oil and gas portfolio of the Gulf country.
Production Capacity and Integration into Regional Strategy
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The concession targets a production capacity of 1.5 billion cubic feet per day. The project aligns with Abu Dhabi's strategy to increase its production of liquids through condensates and its gas production, while enhancing its value chain in LNG. TotalEnergies already holds a 10% stake in the Ruwais LNG project, a deal concluded in 2024, and has 5% in ADNOC LNG. These investments consolidate the French group's position in the Emirati gas sector.
87 Years of Presence and a Status as a Major Foreign Contributor
TotalEnergies has been present in the United Arab Emirates for 87 years and is among the main contributors to the country's hydrocarbon production, with 393,000 barrels of oil equivalent per day in 2025. The group operates across the entire energy value chain and is expanding its activities in renewable energies, including decentralized solar production.
SectorEnergie · Pétrole et gaz intégrés›Pétrole et gaz intégrés
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Context
Period
Period: 1T2026
Key reported figures
Revenue: 5394M$
EBITDA: 12552M$
Net income: 5810M$
Free cash flow: 8600M$
Guidance from the release
Portée par une croissance organique de sa production de 4 % sur un an.
TotalEnergies affiche des résultats en forte hausse au premier trimestre 2026.
Risks mentioned
Conflit au Moyen-Orient affectant la production.
Augmentation du besoin en fonds de roulement de 5,1 G$.
Opportunities identified
Croissance organique de production de 4 %.
Finalisation de la fusion de ses actifs au Royaume-Uni.
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
