ADNOC has taken the final investment decision (FID) on an offshore-come-onshore carbon capture and hydrogen project worth just under $17bn.
The Hail and Ghasha Offshore Development project will capture 1.5 million tonnes per year (mtpa) of CO2 taking ADNOC’s committed investment for carbon capture capacity to almost 4mtpa.
CO2 will be captured, transported onshore and stored underground, while low-carbon hydrogen is produced to replace fuel gas and further reduce emissions. The project will also leverage clean power from nuclear and renewable sources from the grid.
The offshore EPC contract is valued at approximately $8.2bn (AED30bn) while the onshore EPC contract is valued at $8.74bn (AED32bn). The awards were signed at this week’s ADIPEC conference and exhibition in Abu Dhabi.
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