Adnoc, Taqa announce $2.4b project

Adnoc and Abu Dhabi National Energy Company (Taqa) announced on Wednesday the award of a strategic investment project estimated at up to $2.4 billion (Dhs8.8 billion) to provide sustainable water supply for Adnoc’s onshore operations, reinforcing Adnoc and Taqa’s position as responsible energy leaders and underscoring their efforts to drive sustainable initiatives that deliver long-term value.

The project will develop a centralised world-class seawater treatment facility and transportation network for operations at the Bab and Bu Hasa fields in Abu Dhabi. This project will replace the current high-salinity, deep aquifer water systems at the fields, thereby reducing water injection-related energy consumption by up to 30 per cent. The project will be connected to the grid and will receive 100 per cent of its power from clean energy sources.

Adnoc and Taqa will jointly hold a 51 per cent majority stake (25.5 per cent each) in the Project Company and the remaining 49 per cent stake has been awarded to a consortium comprised of Orascom Construction and Metito (the Consortium).

Abdulmunim Al Kindy, Adnoc Upstream Executive Director, said, “We are delighted to partner with Taqa and other industry leaders in this strategic project that will reduce our environmental footprint and unlock significant value as we continue to decarbonise and future proof our operations.”

Jasim Husain Thabet, Taqa’s Group CEO and Managing Director, said, “As a champion for low carbon power and water, Taqa is pleased to partner again with Adnoc, this time to advance the UAE’s sustainability goals by providing treated seawater for Adnoc’s onshore operations. As a major utility, Taqa is especially committed to partnerships like this that use our expertise to help drive environmental stewardship while maintaining water security and supporting economic growth.”

WAM