ADNOC, TAQA announce project for sustainable water supply to onshore operations worth up to $2.4 billion

ADNOC, TAQA announce project for sustainable water supply to onshore operations worth up to $2.4 billion

ABU DHABI, 24th May, 2023 (WAM) -- ADNOC and Abu Dhabi National Energy Company (TAQA) announced today the award of a strategic investment project estimated at up to $2.4 billion (AED8.8 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%. The project will be connected to the grid and will receive 100% of its power from clean energy sources.

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

The Consortium will arrange the project financing for the construction phase and develop the project under a build, own, operate and transfer (BOOT) model, with the full project being returned to ADNOC after 30 years of operation.

Abdulmunim Al