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ADNOC awards $17 billion in contracts for CO2-free development of offshore natural gas fields

by Patria

ADNOC announces final investment decision and contract award for Hail and Ghasha offshore development. The project will reinforce ADNOC’s legacy of responsible natural gas production and support its Net Zero by 2045 ambition and accelerated decarbonization plan by operating with net zero carbon dioxide (CO2) emissions.

The awards, which include two engineering, procurement and construction (EPC) contracts, were signed at ADIPEC, the world’s largest gathering of the energy industry. The Hail and Ghasha natural gas fields are part of Abu Dhabi’s Ghasha concession, which is expected to produce more than 1.5 Bcfdg by the end of the decade, contributing to the UAE’s gas self-sufficiency and ADNOC’s gas growth and export expansion plans.

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The offshore facilities, which include facilities on artificial islands and subsea pipelines, are the first EPC contract to be awarded. The contract was awarded to a joint venture between National Petroleum Construction Company and Saipem S.p.A..

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The second EPC contract is for the onshore scope, including CO2 and sulfur recovery and handling. It was awarded to Tecnimont S.p.A.

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The value of the offshore EPC contract is estimated at approximately US$ 8.2 billion (AED 30 billion). The value of the onshore EPC contract is approximately $8.74 billion (AED 32 billion).

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The Hail and Ghasha development project is part of the Ghasha Concession, the world’s largest offshore natural gas development of its kind, located offshore the Emirate of Abu Dhabi.

The Ghasha license includes the following offshore fields: Ghasha, HairDalma, BuHaseer, Satah, Nasr, SARB, Shuweihat and Mubarraz. The Hail and Ghasha Development Project will produce natural gas from the Hail and Ghasha fields and serve as a hub for related offshore fields within the concession area.

55% of the investment value will be returned to the UAE economy under ADNOC’s In-Country Value (ICV) program, reinforcing ADNOC’s commitment to ensuring that more economic value is retained in the country from the contracts it awards.

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