OMV AG has sold its stake in a $20 billion natural gas concession located off the coast of Abu Dhabi to Russia’s Lukoil PJSC, marking a significant exit from a project that was initially viewed as a means to distance itself from the Kremlin’s energy influence.

The Vienna-based company divested its 5% interest in the Ghasha development for $594 million, after accounting for a $100 million transaction fee, as reported on Friday. This sale effectively doubles Lukoil’s stake in the project to 10%.

The Ghasha field is projected to produce 1.5 billion cubic feet of gas and 120 000 barrels of oil and condensate each day once it becomes operational. Other notable investors in this venture include the Abu Dhabi National Oil Co. and Italy’s Eni SpA.