ADNOC Takes FID on Project that Aims to Operate with Net Zero Emissions
London, 5 October 2023, (Oilandgaspress) – ADNOC announced, today, the final investment decision and award of contracts for the Hail and Ghasha Offshore Development project. The project aims to operate with net zero carbon dioxide (CO2) emissions, reinforcing ADNOC’s legacy of responsible energy production and supporting its Net Zero by 2045 ambition and accelerated decarbonization plan.
The awards, which comprise two engineering, procurement and construction (EPC) contracts, were signed at ADIPEC, the world’s largest energy industry gathering. Hail and Ghasha are part of Abu Dhabi’s Ghasha Concession which is set to produce more than 1.5 billion standard cubic feet per day (bscfd) of gas before the end of the decade, contributing to UAE gas self-sufficiency and ADNOC’s gas growth and export expansion plans.
Over 60 percent of the investment value of the entire project will flow back into the UAE’s economy under ADNOC’s In-Country Value (ICV) program, reinforcing ADNOC’s commitment to ensuring more economic value remains in the country from the contracts it awards.
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