ADNOC'S $2.4 billion sustainable water-supply project for onshore operations will reduce energy consumption by 30% and contribute to the company's goal of reducing greenhouse gas emissions by 25% by 2030.
Abu Dhabi National Energy Company (Taqa) and ADNOC have jointly announced a $2.4 billion sustainable water-supply project to support ADNOC’s onshore operations and foster sustainable emission reduction initiatives.
As part of the project, a centralized seawater treatment facility will be developed along with a transportation network for operations at the Bab and Bu Hasa fields in Abu Dhabi, the companies said in a statement to the Abu Dhabi Securities Exchange.
The two companies will each hold a 25.5% stake, giving them a combined majority stake of 51% in the project. The remaining 49% will be awarded to the consortium of Orascom Construction and Metito, who will also be responsible for arranging funds for the project’s construction phase and developing it under a ‘build, own, operate, and transfer’ model.
The project aims to reduce energy consumption by 30% by replacing the high-salinity deep aquifer systems currently in use with a centralized system. Additionally, the project will exclusively rely on 100% clean energy to power its operations.
ADNOC has set a goal to reduce greenhouse gas emissions by 25% by 2030 and has taken several measures to achieve this, including investing $15 billion in decarbonization projects by the end of the decade. To reach its target, the company focuses on clean energy, carbon capture usage and storage (CCUS), carbon dioxide absorption technology, and energy efficiency. In September 2022, the two companies signed a $3.8 billion project deal to power and decarbonize ADNOC’s offshore production operations.
Loading the player...
H.E. Khalfan Belhoul on building a future-forward Dubai