ADNOC, TAQA invest $2.4bn to supply sustainable water to onshore operations

ADNOC, TAQA invest $2.4bn to supply sustainable water to onshore operations

ADNOC Group and Abu Dhabi National Energy Company (TAQA) have invested $2.4bn (Dhs8.8bn) to provide sustainable water supply to the oil company’s onshore operations, as part of the two entities’ broader sustainability initiatives that deliver long-term value. ADNOC and TAQA will jointly hold a 51 per cent majority stake (25.5 per cent each) in the project and the remaining 49 per cent stake has been awarded to a consortium comprised of Orascom Construction and Metito. The consortium will arrange the project financing for the construction phase and develop the project under a build, own, operate and transfer model, with the full project being returned to after 30 years of operation. 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. It will replace the current high-salinity, deep aquifer water systems at the fields. The new water supply system will reduce water injection-related energy consumption by as much as 30 per cent. The project will be connected to the grid and will receive 100 per cent of its power from clean energy sources. “We are delighted to partner with TAQA and other industry leaders in this