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Abu Dhabi National Oil Company (ADNOC) and Abu Dhabi National Energy Company PJSC (TAQA) have awarded a sustainable water supply project estimated to be worth around AED8. The remaining 49% of the majority stake in the company is held by the consortium.
The consortium, comprising Orascom Construction and Metito, will arrange project financing for the construction phase, develop the project under a build, own, operate and transfer (BOOT) model, and return the entire project to ADNOC after 30 years of operation, the national energy major and TAQA said in a joint statement on Wednesday.
The project will develop a centralized seawater treatment facility and transportation network for the operations of Abu Dhabi’s Bab and Bu Hasa oil fields, replacing the fields’ current high-salinity deep aquifer water systems and reducing water injection-related energy consumption by up to 30%. The project will be connected to the grid and will get all of its electricity from clean sources, they said.
Under ADNOC’s Domestic Value (ICV) program, more than 60% of the project’s value during the development and operation phases will flow back into the UAE economy.
(Writing by Brinda Darasha; Editing by Seban Scaria)
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