Design and construction of a seawater treatment, Transmission & Distribution Facilities.
Project is currently under planning stage.
ADNOC and TAQA have revealed a massive strategic investment project with an estimated value of up to $2.4 billion (AED 8.8 billion). The project’s foundation revolves around two key elements: the development of an advanced seawater treatment facility and the creation of an extensive transportation network. These integral components have been meticulously designed to cater specifically to the Bab and Bu Hasa fields located in the heart of Abu Dhabi. In this venture, ADNOC and TAQA will jointly hold a majority stake of 51%, with each entity having a 25.5% ownership share in the Project Company. The remaining 49% stake has been allocated to a distinguished consortium comprising Orascom Construction and Metito, leading players in their respective fields. The Consortium will handle project financing during the construction phase and oversee the project’s development under a build, own, operate, and transfer (BOOT) model. The desalination project aims replace the existing high-salinity, deep aquifer water systems at the fields, resulting in a potential reduction of up to 30% in water injection-related energy consumption. The project will be connected to the grid and rely on 100% clean energy sources for its power requirements. The desalination project aims to deliver over 110 million imperial gallons per day (MIGD) of nano-filtered seawater. This will be done through an extensive network of 75 kilometers of transportation pipelines, over 230 kilometers of distribution pipelines, and two pumping stations.
The oil giant ADNOC has secured the financial closing for a $2.2 billion project with the Abu Dhabi utility company Taqa to provide sustainable water supply to the former’s onshore operations. The investment will lead to developing and operating facilities to sustainably treat and supply seawater for the ADNOC operations. This will in timelead to furthering ADNOC’s efforts to decarbonize, transform and future proof its business.
Nine financing banks - including First Abu Dhabi Bank, Gulf International Bank, Natixis, Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Commercial Bank of Dubai, Emirates NBD, Emirates Development Bank and Warba Bank - are participating in the funding. The balance of the project cost will be provided by the project sponsors in accordance with their equity shares.
September
25
2023
Monday
LAST UPDATED
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